Horizen Halving – Everything You Need to Know!
Our first halving as a project is coming soon! We are excited to have our community with us for this major project milestone.
We have received a lot of great questions from our community. So, we collected some of these and created this helpful FAQ for anybody who would like to learn more about what a halving is, and what it means for our project.
11/16 Update:
Join the Horizen Halving Community Livestream Party!
This international event will mark the first halving of ZEN. The party will begin 1 hour before the halving. There will be interviews with Horizen community members, Horizen team members, industry experts, and our special guest will be the fabulous Tatiana Moroz!
Learn more and follow the timing for the event at https://horizenhalving.com/
Halving FAQs
What is the Horizen halving?
The Horizen blockchain’s source code is based on Bitcoin’s. Our emission schedule was inherited from Bitcoin, which gives us the same supply of 21 million coins. The Horizen halving is the event where the reward for mining or creating new blocks is reduced by 50%, every 840,000 blocks, or approximately every 4 years.
The current block reward is 12.5 ZEN, after the halving, the block reward will be 6.25 ZEN. The reason for this is that Horizen was designed to be a deflationary currency where coin issuance decreases over time.
The supply of ZEN has been programmed to be known and controlled across time. Information about the circulating supply and how much is available to be mined is easy to obtain and public.
When is the next Horizen ZEN halving?
The first Horizen halving will occur approximately December 1st, 2020 at block 840,000. The next halving will be at block 1,680,000. Keep track of the Horizen halving with this great community-made countdown.
What are the differences between the Horizen and Bitcoin halving?
|
ZEN |
Bitcoin |
|
|
Total supply |
21,000,000 |
21,000,000 |
|
Block interval |
~2.5 minutes |
~10 minutes |
|
First block reward |
50/4 = 12.5 ZEN |
50 BTC |
|
Block reward after the 1st halving |
6.25 ZEN (from Dec 1, 2020) |
25 BTC (on November 28, 2012) |
|
Halving interval |
Every 840,000 blocks/~4 years |
Every 210,000 blocks/~4 years Note: current Bitcoin reward is 6.25 until ~ the year 2024 |
How does the halving impact node operators, miners, and Horizen’s treasury?
Out of the 100% total rewards, ZEN stakeholders currently receive:
- Secure and Super Nodes: 20%
- Treasury: 20%
- Miners: 60%
Block rewards will be reduced by 50%, which means the amount each stakeholder receives will be reduced by 50%.
The distribution of ZEN over time
If you have additional questions about the Horizen halving, please reach out to us on Discord, Twitter, or Facebook.
November 15, 2020 @ 11:24 pm
This is going to be crazy. Especially with Horizen’s actual higher deflation rate than btc, functioning use case scenarios, massive node network & most importantly, it’s sidechain scalability make this project the one to beat. They’re so far ahead of anyone else, it’s insane.
November 16, 2020 @ 1:08 pm
It’ll be interesting to see how many nodes disappear when the operators realise their rewards are less than the cost of their VPS, only the true Horizen believers and those who run nodes at home will be left after 6 months I reckon! How many that is is anyone’s guess!
November 16, 2020 @ 3:10 pm
Perhaps, but that assumes a steady price from now to then. We’ve entered a bull market that will still be going strong 5-6 months after the Horizen halving when it should pick up. That’s reduced supply with increasing demand from real world projects. We’re headed for a major inflection point.