Time to start mining NEWG：from the day of official mining date
Mining income give out time：earnings of the last day's are released before 9:00 every day when mining operation begins(the first confirmation time is 9:00 before October 13, 2017).
How to gain more NEWG through Newifi Chain?
The output of mining is fixed; daily production of the first year is approximately 2870 thousands, providing 50% of the total balance of output each year. The mining process gives out incentives according to the capabilities of the device； device hardware capabilities, upload internet data traffic, storage size, and time online are all factors. Newifi Chain collects available storage space of the whole network everyday, and allocate daily output of NEWG on the basis of the weight of workload.
NEWG Mining Distribution：
NEWG adopts PoS (Proof of Stake) as the consensus method. In this case, the more the devices are, the higher the mining capacity is.
The mining algorithm gives out incentives according to the capabilities of the device； device hardware capabilities, upload internet data traffic, storage size, and time online are all factors.
In each digital PoS period, the digital certificate ci obtained by node i is decided by the ratio of the current total circulation c multiplied by the capacity value Pi of the node to the sum of the capacity values of all the nodes ，that is：
The capability of node p is decided by ph, ps, pd and pb. ph is determined by capacity of the hardware on the node (including CPU, GPU, and test value of memory). ps is determined by the available storage space. pd is determined by the amount of the allocated data. pb is determined by the bandwidth.
P = wh*ph+ws*ps+wb*pb+wd*pd Where wh, ws, wb, and wd are the corresponding weights, and wh + ws + wb, + wd = 1 . For example, wh=0.2, ws=0.3 wb=0.2, wd=0.3
For ph, we set the configuration of the router, the Newifi 3, as the minimum configuration of hardware to mine PoS, and we assign it the benchmark value of 1. For ps, where S is available mining storage space with unit of GB and the base is 2.
We calculate the internet data traffic that users contribute every five minutes and we get a total of 288 values a day. We record it as a vector d of length 288. In the region/time zone in which the node is located, the value of internet data traffic of each time segment corresponding to 5 minutes is not the same, and is denoted as vector v. Through this calculation,
There will be no initial coin offering (ICO) for NEWG, nor will there be any pre-mining. The proportion of NEWG mined by customers will be up to 87.50%.
The total amount of NEWG will be 2.4 billion, of which about 2.1 billion are mined by customers and 300 million are reserved for operations and the development teams.
The incentive rate of NEWG for miners across the entire network is 87.50%, the operating expenditure ratio for mines is approximately 4.16%, and the incentive rate for development teams is approximately 8.33%, and it is under a four-year vesting schedule with one year cliff, which fully guarantees the interests of mining users and creates a good market environment.