# After reading the docs

**URL:** https://forum.duniter.org/t/after-reading-the-docs/23
**Category:** Discussion
**Created:** [18 September 2014 10:20 UTC](https://forum.duniter.org/t/after-reading-the-docs/23 "2014-09-18T10:20:02Z")
**Posts on this page:** 1
**Showing post:** 2

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### Author: ![cgeek](https://forum.duniter.org/user_avatar/forum.duniter.org/cgeek/32/279_2.png) [@cgeek](https://forum.duniter.org/u/cgeek)
#### Post date: [18 September 2014 12:45 UTC](https://forum.duniter.org/t/after-reading-the-docs/23/2 "2014-09-18T12:45:53Z")

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> [@mhugo](#):
>
> - There is no particular coin issue message, right ?

There is one: Universal Dividend. It is determined during the writing of a new [Block](https://github.com/ucoin-io/ucoin/blob/ed25519/doc/Protocol.md#block), and is written in it (`UniversalDividend` field). Only some blocks may contain this field. Furthermore, amount is deterministicly computed, so a block with wrong amount will be refused.

_NB.: I notice I havn’t written this part in the protocol yet!_

When a UD is issued, every member may send a new transaction with an amount equaling this UD: here are brand new coins 😉

With this message, you should have understood that “new coins” becomes real through a 2 steps process:

1. New block is emitted with `UniversalDividend`in it
2. Transactions are emitted pointing to this UD

> [@mhugo](#):
>
> The amount of dividend received by a member is fully determined by when he enters the community

The amount is the same for all members at `t` time, it does not depend on when he “enters” (because a member may join, leave, and the join again). Amount is computed using this formula:

```
UD(t+1) = MAX(UD(t) ; c * M(t) / N(t+1) )

```

> [@mhugo](#):
>
> Why transactions are not part of the chain ?

Transactions will be in the blockchain. As said in my [previous post](http://forum.duniter.org/t/anatomy-of-bitcoins-blockchain/19/10), website has to be updated to match the protocol. Prefer reading it rather than website to get the best informations. 🙂

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