What is halving and how is it implemented in Kalima.
24 Feb 2023, 06:32
š What is halving and how is it implemented in Kalima?
Halving in cryptocurrency refers to an event in which the rewards for mining new blocks on a blockchain are reduced by half.
š° In the crypto ecosystem, this is an important event since it helps control inflation and maintain the value of cryptocurrencies.
The Kalima Blockchain has a halving mechanism too that is designed to control the issuance of its native token, KLX. The Kalima halving process is scheduled to occur every 16 billion KLX that are emitted.
š This process of halving is important to maintain the value of the KLX tokens. By reducing the rate at which new KLX is produced, the Kalima Blockchain can:
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Maintain a predictable inflation rate
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Control the issuance of new KLX
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Provide incentives for miners to continue securing the network
āļø Additionally, Kalima Blockchain's halving mechanism is beneficial to the ecosystem's long-term health.