TomoChain Halving
TomoChain Halving ETA date: Apr 22, 2023 10:34:58 UTC
Calculated from average block time on last 1'296'000 block (~2.213s)
How is TomoChain Halving calculated ?
Halving ETA is calculated using TomoChain API, from average block time on last 1’296’000 block and how much blocks are left until we reach block 31,536,000.
Result is cached for 30 minutes, and recalculated every epoch.
What is TomoChain Halving ?
As part of TomoChain’s coin issuance, masternodes are rewarded a certain amount of Tomo whenever an epoch (every 900 block) is produced (approximately every 30 minutes). After 31,536,000 blocks are mined (approximately 2 years), the epoch reward halves and will keep on halving until the epoch reward becomes 0 (approximately after 8 years). As of now, the epoch reward is 250 coins and will decrease to 125 coins per epoch post halving.
Why was this done?
TomoChain was designed as a deflationary currency. Like gold, the premise is that over time, the issuance of Tomo will decrease and thus become scarcer over time. As Tomo become scarcer and if demand for them increases over time, Tomo can be used as a hedge against inflation as the price, guided by price equilibrium is bound to increase. On the flip side, fiat currencies (like the US dollar), inflate over time as its monetary supply increases, leading to a decrease in purchasing power. This is known as monetary debasement by inflation. A simple example would be to compare housing prices decades ago to now and you’ll notice that they’ve increased over time!
Who controls the issuance of Tomo?
The network itself controls the issuance of Tomo, derived by consensus through all Masternodes and stakers. Ever since TomoChain was first designed, the following consensus rules exist to this day:
- 100,000,000 Tomo to ever be produced
- Target of 2 secondes block intervals
- Halving event occurring after 2 and 5 years.
- Epoch reward which starts at 250 tomo and halves continually every halving event : 1st and 2nd year: 4 million TOMO annually; 3rd, 4th and 5th year: 2 million TOMO annually; 6th, 7th and 8th year: 1 million TOMO annually
Any change to these parameters requires all masternodes participants to agree by consensus to approve the change.
TomoChain Stats
| Circulating Supply: | 84,217,675 TOMO |
| Total Supply: | 100,000,000 TOMO |
| Total Tomo left for staking reward until next halving: | 3,133,750 TOMO |
| Tomo price (USD): | 2.05 $ |
| Market capitalization (USD): | 173,227,527 $ |
| Market capitalization rank: | 280 |
| Tomo rewarded per day: | 6,000 TOMO |
| Total blocks: | 40,509,145 |
| Total epoch: | 45,010 |
| Blocks until staking reward is halved: | 22,562,855 |
| Average block time since genesis block: | 2.159 s |
| Average block per day since genesis block: | 40,019 |
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