On December 11, 2017, one conducted the hard fork in Ethereum Classic, recently withdrawing from the Ethereum major network. The fork was launched on the 5 000 000 block.
Fork creators implemented ECIP 1017, which limited the total sum of coins: 210 million coins would be issued instead of 230 million. Besides, one will launch a deflationary model: the reward for the generated block will be reduced by 20% and will keep falling every 5 million blocks.
Currently, blocks are obtained with the speed of 250 000 per 40 days. If the network difficulty level is not changed, the scheduled reward reduction will take place approximately in 2 years.
Ethereum Classic developers believe that such a model increases the emission stability and eliminates the system uncertainty. It is expected that the shift will also increase the coin price.
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