Eras and Sessions

In Creditcoin's Nominated Proof-of-Stake blockchain, time is organized using three distinct units: blocks, sessions, and eras.

Validator elections are run at the end of each era. An era is a period of 24 hours during which an active set of validators is producing blocks and performing other actions on the chain. Not all validators are in the active set and such set changes between eras.

Each era is divided into two 12 hour sessions, during which validators are assigned as block producers to specific time frames or slots. This means that validators know the slots when they will be required to produce a block within a specific session, but they do not know all the slots within a specific era. Having sessions adds a layer of security because it decreases the chance of having multiple validators assigned to a slot colluding to harm the network.

Ideally each slot should produce one block every 15 seconds. A block is the smallest time unit in the Creditcoin blockchain.

Unit	Time	Reward
Block	15 seconds	2 CTC
Session	12 hours (2880 blocks)	5760 CTC
Era	24 hours (2 sessions)	11520 CTC