- Halvening topics are increasingly gaining traction in the crypto space
- Beam is set to undergo halving on January 4
- Zcash will also undergo halving towards the end of next year
Cryptocurrency News Today – Digital currency miners would see their rewards slashed by 50 percent next year, as several op Proof of Work (PoW) networks are about to undergo halvenings. The halving of Bitcoin’s mining reward is likely to take place in mid-May, and that of Bitcoin Cash (BCH) will likely hold a month prior.
When both blockchains undergo their halving, the reward for mining blocks will drop to 6.25 BTC from 12.5 BTC per block. As the top Proof of Work digital currency, Bitcoin and Bitcoin Cash have been the focus of the halvening talk that has flooded the digital currency space for months.
Bitcoin (BTC) Price Today – BTC / USD
Halvening Topic Are Increasingly Gaining Attention
Historically, the reduction of block rewards is associated with an enormous price increase, as sell pressure from miners diminishes. As such, it is understandable why the topic has gained so much attention in the digital currency space. The halving of Bitcoin alone will see the release of $12 million less coins into the wild each day, based on current prices.
Nevertheless, before that event takes place, one newer Proof of Work digital currency will undergo a halving of its own. That new digital currency to undergo halving is Beam.
Beam Will Undergo a Halving On January 4
The Beam team has been busy recently. They have been incorporating atomic swaps into the Beam Wallet through a decentralized marketplace, marking the first time a privacy-oriented digital currency has been tradable for coins such as BTC in this manner. On Jan. 4, Beam will undergo a halving that would reduce the mining reward from 100 to 50 coins. Grin and Beam were both designed with an aggressive release date for their first year, with the aim of accelerating the big bang that characterized the release of Bitcoin.
After the first halving of Beam takes place on January 4, the next halving will not be due for another four years. The total supply of the digital currency is set to reach 263.8 million ultimately.
Zcash Will Undergo Halving in 2020
Zcash (ZEC) will also experience its first halving in 2020. The halving is scheduled to happen towards the end of the year, four years after the mining of the first block. Like many Proof of Work digital currencies, the release schedule of ZEC is closely based on that of Bitcoin (BTC). When Zcash undergoes its first reward reduction, by this time next year, the release rate will drop from 50 to 25 ZEC per block.