This article was first published on Horizen
Our first halving as a project is coming soon! We are excited to have our community with us for this major project milestone.
We have received a lot of great questions from our community. So, we collected some of these and created this helpful FAQ for anybody who would like to learn more about what a halving is, and what it means for our project.
What is the Horizen halving?
The Horizen blockchain’s source code is based on Bitcoin’s. Our emission schedule was inherited from Bitcoin, which gives us the same supply of 21 million coins. The Horizen halving is the event where the reward for mining or creating new blocks is reduced by 50%, every 840,000 blocks, or approximately every 4 years.
The current block reward is 12.5 ZEN, after the halving, the block reward will be 6.25 ZEN. The reason for this is that Horizen was designed to be a deflationary currency where coin issuance decreases over time.
The supply of ZEN has been programmed to be known and controlled across time. Information about the circulating supply and how much is available to be mined is easy to obtain and public.
When is the next Horizen ZEN halving?
The first Horizen halving will occur approximately December 1st, 2020 at block 840,000. The next halving will be at block 1,680,000. Keep track of the Horizen halving with this great community-made countdown....
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