Authority Nodes

Papyrus Network is operated by Authority Nodes, which provide their hardware capacities to run Papyrus Network software, which implements Papyrus Network protocol. Authority Nodes are operated by identified business entities and are elected by other Authority Nodes according to established network governance model (see http://docs.papyrus.network/en/latest/doc/network_architecture.html for more details).

Papyrus Network protocol allows up to 47 Authority Nodes to be a part of the network.

In exchange for maintaining network operations Authority Nodes get mining rewards equal to 3*K PPR tokens per block, where K = {AMOUNT OF AUTHORITY NODES}/47.

PPR token is a native token of Papyrus Network required to allocate network resources to execute transactions. There are 1 000 000 000 PPR tokens distributed at the genesis block, and according to mining rewards schedule with 3 seconds block interval annual inflation is limited with a maximum amount of new tokens equal to (20 blocks per minute)*60*24*365*3*(47/47)= 31 536 000 PPR, ie ~ 3% of total emission.

Mining rewards are subject to change based on community voting (see Governance documentation).

Initially Papyrus Network mainnet is launched with 5 Authority Nodes chosen by Papyrus. After the launch election procedures become active and existing Authority Nodes elect new Authority Nodes.

If you would like to run an Authority Node and receive mining rewards in Papyrus Network, you can apply here: https://papyrusglobal.typeform.com/to/Va9wX5

Instruction on how to set up a node can be found here: https://github.com/papyrusglobal/papyrus

Recommended Authority Node configuration:

CPU - Intel® Core™ i7 or more powerful

RAM: 64Gb+

Hard drive: 512Gb+ (SSD recommended)

Connection: 100 MBit/s+ port

Expected Authority Node rewards:

Monthly PPR reward for active Authority Node is equal to 3*20*60*24*30*(K/47)*(1/K) = ~55,149 PPR