How does ETC reduce production?
ETC coin reduction is based on block height, not time interval. The specific process is as follows:
Production reduction mechanism: When the ETC network reaches a certain block height, the block reward will be reduced. This is to control the growth rate of the money supply and simulate deflation.
Production reduction event: According to data predictions and actual occurrences, ETC successfully completed the production reduction on July 21, 2024, and the block reward dropped from 2.56 ETC to 2.048 ETC.
Computing power and income: ETC uses the POW consensus algorithm, and miners are rewarded through computing power mining. After the production reduction, although the block reward is reduced, miners can still maintain or increase their income by increasing computing power or optimizing mining efficiency.
In summary, the production reduction of ETC coins is an algorithmic mechanism based on block height, which aims to control the money supply and maintain network stability.
