Spam

Spam is a digital currency you can mine from anywhere, at home or on your phone. It uses a novel proof-of-work algorithm to guarantee no miner can ever be starved out from earning rewards.

How it works

The primary innovation of Spam is to offer non-exclusive mining rewards. This means one miner finding a valid solution does not prevent another miner from finding one as well. Rather than setting up every miner in a winner-take-all competition against one another, Spam gives each miner a personalized computational challenge. As long as a miner provides a valid solution to their own individual challenge, the protocol guarantees they will earn a piece of the supply. Since no miner can be censored from the network and valid solutions are non-exclusive, starvation is avoided.

Supply

Spam is designed to protect holders from runaway supply inflation. Regardless of how many miners are active in the world, supply growth is strictly bounded to a rate of 0 ≤ R ≤ 2 SPAM/min. In other words, linear. The mining reward rate – amount paid out to miners per valid solution – is dynamically adjusted every 60 seconds to maintain an average supply growth of 1 SPAM/min. This level was chosen for its straightforward simplicity, scale agnosticism, and for striking a balance between the extremes of exponential inflation on one hand and stagnant deflation on the other.

Program

• Consts – Program constants.
• Entrypoint – The program entrypoint.
• Errors – Custom program errors.
• Idl – Interface for clients, explorers, and programs.
• Instruction – Declared instructions and arguments.
• Loaders – Validation logic for loading Solana accounts.

Instructions

• Initialize – Initializes the Spam program, creating the bus, mint, and treasury accounts.
• Reset – Resets the program for a new epoch.
• Register – Creates a new proof account for a prospective miner.
• Mine – Verifies a hash provided by a miner and issues claimable rewards.
• Claim – Distributes claimable rewards as tokens from the treasury to a miner.
• UpdateAdmin – Updates the admin authority.
• UpdateDifficulty - Updates the hashing difficulty.

State

• Bus - An account (8 total) which tracks and limits the amount mined rewards each epoch.
• Proof - An account (1 per miner) which tracks a miner's hash, claimable rewards, and lifetime stats.
• Treasury – A singleton account which manages program-wide variables and authorities.

Tests

To run the test suite, use the Solana toolchain:

cargo test-sbf

For line coverage, use llvm-cov:

cargo llvm-cov