While there is about 1.5 years left for halving (block reward halving) in Bitcoin, some cryptocurrencies are already on the halving agenda. Litecoin is one of them, 6 months away from the block reward halving, but the halving awaits Flux before it.
Flux, the scalable decentralized cloud service project released in 2018, is getting ready to hold the halving event. In Flux, which has been waiting for this moment for 2.5 years, the block rewards will decrease from 75 FLUX to 37.5 FLUX on Saturday, February 4, estimated.
In Flux, block rewards are halved every 655,350 blocks, similar to Bitcoin. Since the block time in Flux is about 2 minutes, halving occurs every 2.5 years. In Flux, only 50 percent of the block rewards are given to miners. The remainder is shared between masternodes. Therefore, the current mining reward will be 37.5 FLUX and after the halving it will decrease to 18.75 FLUX.
Increased by about 150% in 1 month
While approaching the halving, the increase in FLUX price also drew attention. The coin was traded at $0.44 late last month and went up to $1.12 on Saturday.
What is halving?
Halving is known as a network event in which the rewards allocated to the miners of the respective coin in the protocol are halved. This event; A feature unique to proof-of-work (PoW) cryptocurrencies such as Bitcoin, Litecoin, and Dogecoin. The Flux halving stands out as an exception, as the protocol uses a variant of the consensus model known as ‘useful proof-of-work’ (PoUW).
