No pun intended but seems everything is splitting into halves this year. Probably that didn’t sound funny, same here, I said it with a frown on my face…lol. But for real, it’s all for good.
A couple of proof-of-work cryptocurrencies have reduced their block mining rewards to half its former value(as scheduled), making this list includes bitcoin forks; bitcoin gold, bitcoin Cash and bitcoin SV ( Satoshi vision, That left you in awe, I guess) with their parent coin–bitcoin expected to follow suit in the coming few days. Half the reward, decreased rate of inflation, unarguably a good tokenomics practice. These projects really planned it out to work well for their economics.
Most recently, Pascal blockchain have also completed its second block rewards halving. The high-tech blockchain have scheduled its halving to occur after every 210,240 blocks. If that sounds strange, now here’s it; after each 210,240blocks mined on the pascal blockchain, the block reward is reduced to half the former amount.
On 2nd May, Pascal recorded the 420,480th block mined on its blockchain and completed the block reward halving. Halving? Yikes!, maybe a nightmare for miners, but good for the economy. Just as the saying goes Create scarcity, drive value. Pascal coin and its blockchain are parties to this, maybe they shouldn’t…lol.
Its all done now, what do we have at stake? Barbecue and Taco Bell?, nah something even more tasty. Get a paper and start making the list.
New block rewards: We’ve been eating a lot, now we’ll have to each much lesser, no panic, it’s for an even greater good! Prior to the halving, each miner earns 50Pasc(pascal coin) and 5PASA (pascal account) for each block mined. It’s all halves now! Due to the reward halving, each miner will now earn 25 PASC for each block mined, PASA distribution however remains unchanged, miners will continue receiving 5PASA for each block mined (consider donating some PASA to new users,<i>winks</i>). Scarcity breeds value, with the new distribution scheme poised to reduce the rate at which pascal coins goes into circulation, the greater probability lies towards a positive price action. The rewards are lesser, but they could be worth even more. Hold on to those gems.
- Miners' attrition: As experienced in the BCH and BSV halving, miners tend to move when the reward is reduced. Yeah, that’s normal –we are humans after all. Scared of running mining loses, miners are in hunt for profits and may move when this is not the case.
For Pascal coin, you can breathe some fresh air. Prior to the reward halving and at the time of this writing, pascal miners remains devoted to solving the proof-of-work puzzles, mining block and receiving the block rewards, even though it’s lesser now. Being a memory-friendly CPU based coin and consuming relatively small electricity, pascal still remains a profitable coin to mine. With the price poised to go even higher; it’s all paradise for the miners. Don’t be left out, get to the mines!
- Developers’ reward: Just as the miners, the Pascal blockchain developers will have to get lesser too. It’s all mutual here. Pascal economy specifies a developers' fee which is a percentage of the mining reward. This is deducted at the point of reward. Currently, the Pascal developers' fee stands at 20% of the block reward. With the reward slashed down to half, the developers' fee follows suit.
- Market influence
Relative to other coins which halved its block rewards earlier, pascal halving has had a much bigger impact on the price. I guess the odds are with the pascals. Let’s not even argue about that!. With so much green candles on the thirty days price chart, their has been some reasonable pre-halving positive trend in price. Currently, price is yet to heat up after the halving as the price looks almost the same with about 7% price increases in 24hrs post halving price chart. Relatively this has been an impressive move, hopefully the slash in distribution rate will set in with more greens. We keep our fingers crossed…as always.
Pascal have exhibited uniqueness and a reasonable perseverance in the course of it development. With some ground-breaking technology in place, it’s masterpiece has somewhat been hidden. Unarguably lacking exposure, it has continued its focus on developing a user-friendly and adoptable blockchain.
Moving forward with a curbed inflation in a bid to maintain supply and probably improve the economy, it has taken a turn in the right path, commendable.
Miners have stayed put with no observed attrition. The post-halving atmosphere has been somewhat cool, more effects/activities may be felt in the coming days.