On October 14, the Zilliqa team announced that a community vote approved a plan to halve blockchain miner rewards.
As a result, as part of the plan to move to #proof-of-stake in #Zilliqa 2.0, the network has implemented a mechanism to cut #miner payouts by 50% per month.
In Zilliqa 2.0, the network will fully transition to proof-of-work, and miners will be rewarded for protecting the network. This next milestone will turn Zilliqa into a proof-of-stake (PoS) #blockchain , similar to how Ethereum (ETH) merged.
As we get closer to the platform upgrade, payments to miners will be reduced, which will benefit validators and miners; ZIL miners will switch to staking during this period to support the network.
From September 28 to October 12, GZIL held a vote on the proposal. According to the blog, 97% of those who voted approved the vote, which ended on October 12.
As a result, miners will receive 22.25% of the originally planned incentives in October, 20% in November and 12.5% in December.
According to the Zilliqa team, the additional ZIL tokens received by miners before the halving will be used for other community projects. These include investment funds and incentive systems developed by the community.
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