Does anyone know the dates of the next block reward reduction for ETN? I thought i heard something about June or July? Does anyone know anything specific?
thanks guys yeah looks like July - be interesting to see how the price reacts to that change
Just to clarify. There is no scheduled “halving” on the ETN blockchain like in Bitcoin… it slowly decreases each block via the emissions curve. So its always decreasing (until it eventually reaches the 21billion cap a long long long time from now… then it has a small tail).
However… around July time the team will be manually adjusting the curve to reduce the emissions by 50%. This is a one off event, not built into the blockchain.
Its part of phase 2 which includes a deliberate reduction in coin inflation to bring ETN in line with normal release rates. In phase 1 we were running at nearly 10% inflation, removing rewards last month took us down to 4%…its being further reduced in July to ~2%. With 10billion coins in circulating supply… that gives you an idea of the massive change this is to supply.
Phase 1 saw the project grow in users at an unprecedented amount by using inflation as a tool to introduce the wider market to crypto currency. It did its job. Phase 2 is now about a transition from getting raw users… to getting active users. The tools are now in place for people to use the ETN eco-system (anytask.com / etneverywhere.com / etndonate.com / instant payment / mobile app etc) to help themselves.
If someone is willing to learn and work hard… they have HUGE opportunities to benefit within the ETN Eco-system. The possibilities are endless.
The next halving as Richard Ells himself announced during the ANON Summit is scheduled to happen in July if the blockchain update is completed by then. The blockchain devs team is currently working intensely to make that happen on time. Cheers.
me too. at least 5 cent hope so