PAI Coin Halving Countdown
What is the block reward?
Block rewards are how new PAI Coins are created. Every time a block is mined, a coinbase transaction of value 750 PAI is sent as a reward to the miner who mined the block and to the stakers who voted to approve the previous block. The 750 PAI is split among miners and stakers 40/60; that is, the miner receives 300 PAI, or 40% of the total block reward, and the 3-5 stakers who voted on the previous block equally split the remaining 450 PAI, or 60% of the total block reward.
What is the block reward halving?
Every 210,000 blocks, the block reward is reduced by 50%, or halved. When a block height of 420,000 is reached, the second block reward halving will occur, reducing the block reward to 375 PAI. Barring any changes to the blockchain protocol in the meantime, the 375 PAI will still be split 40/60 between miners and stakers.
The first block reward halving occurred at 16:44:26 UTC on October 18, 2021 when the blockchain reached the height of 210,000
The Interim Transition Period (ITP) following the Hybrid Consensus hard fork completed at 21:48:20 UTC on October 11, 2020 at which point the mining whitelist was deactivated.
The PAI Coin Hybrid Consensus Hard Fork successfully occurred at 11:16:50 PM GMT UTC on October 6, 2020 when the blockchain reached the height of 154,550.