Horizen Halving – Everything You Need to Know!

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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. 

 

Halving FAQs

 

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.

 

What are the differences between the Horizen and Bitcoin halving?

 

 

ZEN

Bitcoin

Total supply

21,000,000

21,000,000

Block interval

~2.5 minutes

~10 minutes

First block reward

50/4 = 12.5 ZEN 

50 BTC

Block reward after the 1st halving

6.25 ZEN

(from Dec 1, 2020)

25 BTC

(on November 28, 2012)

Halving interval

Every 840,000 blocks/~4 years

Every 210,000 blocks/~4 years

Note: current Bitcoin reward is 6.25 until ~ the year 2024


How does the halving impact node operators, miners, and Horizen’s treasury?

 

Out of the 100% total rewards, ZEN stakeholders currently receive:

 

  • Secure and Super Nodes: 20%
  • Treasury: 20%
  • Miners: 60%

 

Block rewards will be reduced by 50%, which means the amount each stakeholder receives will be reduced by 50%. 

 

If you have additional questions about the Horizen halving, please reach out to us on DiscordTwitter, or Facebook

The post Horizen Halving – Everything You Need to Know! appeared first on Horizen.

Disclaimer: The Information on this website is provided for education and informational purposes only, without any express or implied warranty of any kind. Anyone wishing to invest should seek his or her own independent financial or professional advice