The SafeCoin Block Reward Schedule

The SafeCoin Block Reward Schedule

When SafeCoin was first launched, it was decided that our block reward would halve every 90 days. The problem with this schedule was that the mining period, known as the Proof of Work period, was only two years long.

Our initial block reward was purposely generous in order to generate liquity for our SafeTrade crytptocurrency exchange. We always knew that the block reward had to be reduced, but the team quickly realised that we wanted a longer mining period too as we knew how important miners are to the success of SafeCoin.

We therefore decided to extend our Proof of Work period and adopt a new block reward schedule in which the block reward is scale down, not halved.

Our Block Reward Schedule

Our new block reward structure was implemented on June 19th 2018.

As you can see, the block reward is designed to be reduced initially every two days and then every seven days (approximately). Afterwards the block reward is reduced every 28 days, 55.5 days, 111 days, etc.

You can see our revised block reward schedule below.

SafeCoin Block Reward Schedule

Instead of halving, our block reward is being scaled down.

A Fair Block Reward

Like most important decisions in the SafeCoin community, our revised block reward schedule was created after weeks of feedback and communication with SafeCoin miners and investors.

With a block time of 60 seconds, SafeCoin remains the most generous Equihash cryptocurrency to mine in 2018. Most other Equihash coins have a block time of 2.5 minutes, not 60 seconds. We will therefore be offering more coins for mining on a daily basis for many years to come.

Many thanks to all SafeCoin miners and investors who took part in the discussion about our recent fork to Equihash 144,5 and block reward adjustment. Your contribution and feedback is greatly valued.

Kevin

About Kevin Muldoon

Kevin Muldoon is a cryptocurrency enthusiast who has been working online since 2000. He is known in the cryptocurrency world for his YouTube channel "Kev's Crypto Channel".
%d bloggers like this: