Flux Comes to an End in Long-Awaited Halving
Flux comes to an end in the 2.5-year-awaited halving. Halving is known as a network event in which the rewards allocated to the miners of the corresponding coin in the protocol are halved. This event; A feature unique to proof-of-work (PoW) cryptocurrencies such as Bitcoin, Litecoin, and Dogecoin. The Flux halving stands out as an exception, as the protocol uses a variant of the consensus model known as ‘useful proof-of-work’ (PoUW).
Flux, the scalable decentralized cloud service project launched in 2018, is preparing to hold the halving event. In Flux, which has been waiting for this moment for 2.5 years, the block rewards will decrease from 75 FLUX to 37.5 FLUX on Saturday, February 4, estimated.
In Flux, block rewards are halved every 655,350 blocks, similar to Bitcoin. Since the block time in Flux is about 2 minutes, halving occurs every 2.5 years. In Flux, only 50 percent of the block rewards are given to miners. The remainder is shared between masternodes. Therefore, the current mining reward will be 37.5 FLUX and after the halving it will decrease to 18.75 FLUX.
While approaching the halving, the increase in FLUX price also drew attention. The coin was traded at $0.44 late last month and went up to $1.12 on Saturday.
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