Reduction on Block Rewards and Total Supply
Dear Hdac Technology supporters,
Hdac Technology is a hybrid blockchain technology company supporting both private blockchain and public blockchain. Since it has established its headquarter at the Crypto Valley in Zug, Switzerland, it has announced an IoT-Blockchain converged enterprise solution for the first time in the world and continued a multilateral blockchain-based global business.
Hdac Technology had to have serious thoughts about how to build a better ecosystem for the participants. As a result, it decided to reduce block rewards and the total supply as part of rebuilding the coin-economy.
The old version coin economy was designed considering the utilization of it under IoT environments, having quite amount of inflation every year.
With the old Hdac coin economy system designed for IoT environments, high inflation was not avoidable.
In order to address this problem, Hdac Technology decided to reduce the block rewards by 80%, to cause 2 to 3% of annual inflation — which would be a more ordinary coin economy.
The decision is based on the notion and purpose that generating demands for Hdac coins starting from managing the supply volume to growth in core business and developing a healthy coin economy can lead to increase in the value of Hdac coins. Increase in the value of Hdac coins can benefit everyone including TGE participants, miners, and holders.
Reduction on block rewards and total supply
Based on the result of the poll held in October, the mining reward per block was reduced from 5,000 to 2,500 — cutting the rewards by 50% on October 15th, 2018.
[Notice for the schedule of reducing block rewards]
Hdac Technology is planning to change in block rewards to manage the supply of coins inside the ecosystem. The block rewards will be reduced from 2,500 to 500 - reduced by 80% — and the total block rewards will be accordingly reduced by 90%.
In addition, the 12 billion of total supply will be also dropped to 24% of the original figure: about 2.85 billion coins.
In addition, Hdac Technology is currently considering to change the consensus algorithm to build a healthy mining ecosystem.
Hdac Technology is planning to develop a hybrid consensus algorithm combining PoS(Proof of Stake) or DPoS(Delegate Proof of Stake) algorithm with the current ePoW (Pow based on equitable chance and energy-saving) algorithm to prevent any kind of offensive action that might be caused by increase in Hdac coin value and from giving rewards to certain miners.
Any question or recommendation would be welcome on Telegram! There will be more updates and events announcement on the Medium blog for the Hdac community.
Please refer to the following links and stay in the loop.
*Website : https://www.hdactech.com
*Medium : https://medium.com/@hdackorea
*Facebook : https://www.facebook.com/hdactech
*Twitter : https://twitter.com/hdactech
*Youtube : https://www.youtube.com/channel/UCGQXVXTs7RllAirD3YjjZIQ
*Github: https://github.com/Hdactech*Telegram(KR) : https://t.me/Hdac_Official_KR
*Telegram(EN) : https://t.me/Hdac_TGE
