Monero will now issue 0.6 XMR per block forever.
This is a huge moment for Monero and the cryptocurrency community as a whole. The Monero (XMR) blockchain was designed with what they call a tail emission.
Monero block rewards will never drop to zero. Block rewards will gradually drop until tail emission commences at the end of May 2022. At this point, rewards will be fixed at 0.6 XMR per block.
For those that may be new to Monero, briefly, Monero is a decentralized cryptocurrency with privacy built into its core. Monero’s privacy comes from its obfuscation of transactions which is what it does to achieve anonymity and fungibility.
Unlike other popular cryptocurrencies such as Bitcoin and Ethereum, no one can decipher transaction amounts, address balances, or histories on the Monero blockchain. A truly brilliant system and the reason why it is one of my favorite cryptocurrencies and one that will probably continue to grow in popularity and use 😎.
Here is the block for anyone interested in viewing a piece of history.
And I don’t mean that to be hypey. It’s true. This is history.
With this achievement, Monero became the first Proof of Work cryptocurrency to reach its supply limit of 18.14 Million! From this point on Monero, miners will mint 432 XMR per day or 0.6 XMR per block, forever.
Tail emission ensures that a dynamic block size and fee market can develop.
Monero (XMR) is currently trading at $187.28 and Monero fans, traders, and investors are celebrating all over the Internet with live stream watch parties happening and no doubt “0.6” memes on their way to a screen near you. Hah! Made myself laugh.
If anyone knows what a Monero fan is called, let me know in the comments below (Monerin’s?).
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