Blockchain-based ecosystem Ethereum Classic (ETH) will undergo a reduction of mining reward on March 16th, according to the Ethereum Classic Era Countdown website.
Chart of the USD/ETC trading pair from EXANTE
At press time, Ethereum Classic is trading at $4,77 (+4,58%).
The planned decrease will reduce mining reward from 4 ETC down to 3.2 ETC per block once the 10000000th block is mined.
The monetary policy approved back in 2017, sets a limit for the total ETC issuance. Once every 5,000,000th block is generated, the reduction by 20% takes effect. Due to variations in the reward rate of ETC, the total supply of ETC will be approximately 210 million ETC.
Earlier iHodl reported that a release manager at blockchain-related company Parity Technologies & ex-core developer of Ethereum Afri Schoeden tested positive for Chinese coronavirus Covid-19.
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