KEY TAKEAWAYS
- aelf is set to undergo its first halving event on 12 December 2024, marking a significant milestone in its blockchain journey.
- The halving will reduce block rewards from 0.125 ELF to 0.0625 ELF, aligning with aelf’s tokenomics model to enhance long-term value.
- This event encourages network efficiency and innovation, supporting aelf’s vision of sustainable blockchain growth.
Singapore, 5 December 2024 — The AI-enhanced Layer 1 blockchain network, aelf, is preparing for its inaugural halving event. This significant milestone is scheduled to occur at approximately 7:30 AM UTC on 12 December 2024, at an estimated block height of 246,500,000 on the aelf MainChain. The event underscores the network’s maturity, following four years of secure and stable mainnet operations since its launch in 2020.
Impact of aelf’s Halving Event
The halving event aligns with aelf’s foundational vision and white paper, which allocates 12% of the total ELF tokens to block rewards. Governed by aelf’s AEDPoS consensus mechanism, the halving occurs every four years, reducing block rewards by half to gradually decrease token issuance.
Since 2020, aelf blockchain rewards have been set at 0.125 ELF per block. Post-halving, these rewards will be reduced to 0.0625 ELF. This reduction aims to foster long-term value creation and sustain aelf’s tokenomics model, benefiting both current and future stakeholders.
The change in block rewards encourages block production nodes to focus more on network efficiency and innovation. For ELF token holders, the halving serves as a form of controlled token issuance, helping to preserve token value as a more resilient economic framework is developed within the aelf blockchain ecosystem.
aelf’s Path Forward
This halving event reflects aelf’s longevity in the evolving blockchain landscape and marks a new phase where innovation, collaboration, and AI integration converge to propel the blockchain forward. The event is seen as a pivotal step in aelf’s journey towards sustainable and innovative blockchain growth.
For more details on the halving event, visit the official announcement here.
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