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What is a halving?

With the upcoming halving just days away for the Helium network, you maybe asking yourself what impact it’ll have on you and your rewards. In order to understand that, we’ll first need to understand coin halving itself: Simply put, halving reduces the rate of new coins by cutting down the rewards provided to miners. For example, if your miner is currently earning 6 HNT a day that would essentially be cut in half to 3 HNT a day. Ultimately this process reduces the supply and in essence decreasing the rate of inflation for the specified cryptocurrency – in this case being HNT.

When is the $HNT halving?

On August 1, 2021 will mark two years since the Helium genesis block. With every halving scheduled to occur every two years, the date markets the first halving of HNT. It will reduce the net HNT issuance from 5,000,000 HNT to 2,500,000 HNT per month. In layman’s terms, on August 1, 2021 the supply goes from 5,000,000 HNT to 2,500,000 HNT. This process continues until the maximum supply of HNT is in circulation.

How is HotspotRF handling the halving?

Both portals and the API will reflect the halving in reward estimates on August 1, 2021.

What will this do to my estimates?

You’ll definitely see a drastic change in rewards due to the halving. Please understand that this is apart of the Helium network and the tool is only as good as the data fed into it. To keep that information as accurate as possible, the HNT supply being a key element of determining estimated rewards, means it’s to be reflected in our estimates.

Hope that answers some burning questions in regards to the halving. If you have any questions, comments or concerns you’re always welcome to e-mail us at hello@hotspotrf.com.

1 Comment

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