Understanding Okcash Blockchain Halvings: Ensuring Long-term Value and Scarcity
The Okcash blockchain operates on a principle that ensures its currency’s long-term value and scarcity — the halving event. This concept, crucial to the Okcash ecosystem, is designed to create a deflationary economic model akin to gold or Bitcoin. Let’s delve into the mechanics of Okcash blockchain halvings and understand their significance.What is a Block Halving Event?A block-halving event in the Okcash blockchain is a periodic process that reduces the number of Okcash coins (OK) awarded to stakers for each new block created. Initially, the reward was 2000 OK coins per block by Proof of Work (PoW) mining, but after the 33,186th block, the system evolved into Long-Term Sustainable Staking (LTSS) Proof of Stake (PoS), leading to scheduled halvings. Halvings occur approximately every 1, 2, and 10 years, based on a calculation of 501,257 blocks per year, continuing until the block 27,589,135 (around […]
