What is Bitcoin halving and does LanaCoin have one?

The year 2020 will bring upon the Bitcoin network its 3rd blockreward halving since the genesis block. Bitcoin miners initially received 50 BTC as a reward for securing the network. The block reward was cut in half to 25 BTC in late november 2012 and the second halving reduced the block reward to 12.5 BTC 4 years later in july 2016. The may/june 2020 Bitcoin halving will split the block reward again, this time to 6.25 BTC.

Just a few sources to learn more about Bitcoin halving.

Fitzner BlockchainCoinTelegraph CoinGecko

Does LANA blockchain have halvings?

Yes it does. LANA is different from Bitcoin, since new blocks are not only created by proof of work/PoW miners running sha256 asic machines, but also by community node operators that own $LANAs and have them stored on LanaCoin full node wallet that are always powered on, connected to the internet via lanacoin p2p network. The process is called staking and can be done with only 1 LANA stored on a connected wallet but that amount would have a very small network weight and the chances of becoming a proof of stake/PoS block finder are very low.

Proof of work miners get rewarded with 10000 newly created LANA , while proof of stake miners (stakers) get rewarded with 1000 newly created LANAs plus a 7% yearly on the amount that was at stake at the time the PoS block was mined/staked/created.

Lanas first block reward halving will occur at blockheight 525600. At time for writing Lana is on blockheight 382183. Therefore 143417 blocks remain untill the first and last LanaCoin halving.

Awerage daily number of proof of work and proof of stake blocks on LanaCoin blockchain is about 420 blocks.

With a an average of 420 transaction blocks being created daily, this puts the estimated PoS halving event aprox 341 days from today (14th january 2020). The halving will split the PoS reward in half reducing the 1000 LANA per proof of stake block to 500. The 7% annual will not change.

Proof of work has no halvings programmed into LanaCoin chain parameters. LanaCoin will simply stop generating PoW blocks after block height 750000. Roughly 875 days from today.

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