Reward-Drop ETA date: 22 Oct 2022 18:03:55 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 (last halving approximately by year 2070).
As of now, the block reward evolved [Semi-static block reward + predictable network growth no matter net staking percentage, achieving Bitcoin predictability under Okcash unique LTSS PoS System.(Energy Friendly)] and is now under the LTSS PoSv3hybrid system at a rate of 6 coins per block and will decrease to 3.9 coins per block post halving.

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):
Ongoing Staking/Mining:6 OK coins / Block Reward
Total OK coins in circulation:83,281,036
Total OK coins to ever be produced:105,000,000
Percentage of total OK coins mined:79.3153%
Total OK coins left to mine:21,718,964
Approximate OK coins left to mine until next blockhalf:2,856,676
Approximate OK coins generated per day:7,226
Bitcoin price (USD):$ 42,416.3194
OK price (BTC):฿ 0.00000050
OK price (USD):$ 0.0211
OK price (EUR):€ 0.0200
OK price (CNY):¥ 0.1520
OK price (MXN):$ 0.4720
OK price (RUB):₽ 1.7100
OK price (JPY):¥ 2.5800
OK price (BRL):R$ 0.1242
OK Market capitalization (USD):$1,759,143.24
Actual Okcash inflation rate:6 OK coins / Block Reward
Okcash inflation rate after next block change event:3.9 OK coins / Block Reward
Okcash inflation per day (USD):$153
Okcash inflation until next blockhalf event based on current price (USD):$60,341
Total blocks:3,058,951
Blocks until mining reward is halved:469,848
Approximate block generation time:72.7 seconds
Approximate blocks generated per day:1188.4456671252
Difficulty:2,476,362


Bitcoin Block Halving Countdown