What Is a LanaCoin POS Halving?
LanaCoin first block reward halving will occur at blockheight 525600. To explain what a LanaCoin Halving is we must first explain a bit about how the LanaCoin network operates.
LanaCoin new blocks are not only created by proof of work/PoW miners running sha256 asic machines, but also by community node operators that own LANAs and have them stored on LanaCoin full node wallet that are always powered on, connected to the internet via lanacoin p2p network. The process is called staking (proof of stake-POS) and can be done with only 1 LANA stored on a connected wallet but that amount would have a very small network weight and the chances of becoming a proof of stake/PoS block finder are very low.
Proof of work miners get rewarded with 10000 newly created LANAs, while proof of stake miners (stakers) get rewarded with 1000 newly created LANAs plus a 7% yearly on the amount that was at stake at the time the PoS block was mined/staked/created.
Lanas first block reward halving will occur at blockheight 525600.
The halving will split the PoS reward in half reducing the 1000 LANA per proof of stake block to 500. The 7% annual will not change.
Proof of work has no halvings programmed into LanaCoin chain parameters. LanaCoin will simply stop generating PoW blocks after block height 750000.
If network usage will stay somewhere around today’s usage. The halving will occur somewhere around 22.2.2021.
Now we just have to wait and we will see if we know our Lana or not.
Proof of work has around 2 more years till it will stop.