Reward-Drop ETA date: 26 Aug 2021 19:59:21 UTC

What is a block halving event?

As part of Okcash's coin issuance, miners/stakers are rewarded a certain amount of Okcash coins whenever a block is produced (approximately every 69 seconds).
When Okcash first started, 2000 OK coins per block were given as a reward to PoW miners. After the block number 33,186 PoW evolved to LTSS PoS and halvings have been ocurring at different time schedules taking in consideration 501,257 blocks per year, the block reward halves and will keep on halving until the block 27,589,135 (approximately by year 2070).
As of now, the block reward is under the LTSS PoSv2 system at a rate of 22% per year [Variable block reward + variable network growth by net staking percentage] and will decrease and evolve to LTSS PoSv3hybrid after next halving with reward of 5.8 OK coins per block [Semi-static block reward + predictable network growth no matter net staking percentage, achieving Bitcoin predictability under Okcash unique LTSS PoS System.(Energy Friendly)]

Why was this done?

Okcash was designed as a deflationary currency. Like gold and Bitcoin, the premise is that over time, the issuance of OK coins will decrease and thus become scarcer over time. As Okcash become scarcer and if demand for them increases over time, Okcash can be used as a hedge against inflation as the price, guided by price equilibrium is bound to increase. On the flip side, fiat currencies (like the US dollar), inflate over time as its monetary supply increases, leading to a decrease in purchasing power. This is known as monetary debasement by inflation. A simple example would be to compare housing prices decades ago to now and you'll notice that they've increased over time!

Predictable monetary supply

Since we know Okcash's issuance over time, people can rely on programmed/controlled supply. This is helpful to understand what the current inflation rate of Okcash is, what the future inflation rate will be at a specific point in time, how many OK coins are in circulation and how many remain left to be mined/staked.

okcash inflation chart

Who controls the issuance of Okcash (OK coins)?

The network itself controls the issuance of OK coins, derived by consensus through all Okcash participants. Ever since Okcash was first designed, the following consensus rules exist to this day:

Any change to these parameters requires all Okcash participants to agree by consensus to approve the change.

How to buy Okcash?

The community keeps an updated list of exchanges over okcash.co where you can check the best option for you.

Stats

CoinCap (worldwide rank):857
Ongoing Staking/Mining Percentage:22 % / (1/3) Net Staking = Expected Net Growth Staking 7.33 % Year
Total OK coins in circulation:82,324,720
Total OK coins to ever be produced:105,000,000
Percentage of total OK coins mined:78.4045%
Total OK coins left to mine:22,675,280
Approximate OK coins left to mine until next blockhalf:183,860
Approximate OK coins generated per day:17,827
Bitcoin price (USD):$ 37,294.0000
OK price (BTC):฿ 0.00000086
OK price (USD):$ 0.0319
OK price (EUR):€ 0.0270
OK price (CNY):¥ 0.2066
OK price (MXN):$ 0.6389
OK price (RUB):₽ 2.3500
OK price (JPY):¥ 3.5100
OK price (BRL):R$ 0.1650
OK Market capitalization (USD):$2,623,960.50
Okcash inflation rate per annum:22.00% / (1/3) Net Staking
Okcash inflation rate per annum after next block change event:5.8 OK / Block Reward
Okcash inflation per day (USD):$568
Okcash inflation until next blockhalf event based on current price (USD):$5,860
Total blocks:2,990,770
Blocks until mining reward is halved:36,772
Approximate block generation time:72.7 seconds
Approximate blocks generated per day:1188.4456671252
Difficulty:1,007,131


Bitcoin Block Halving Countdown