OKXChain’s Plan for Sustainable Growth through OKT Production Reduction
It is reported that according to the tweet released by okxchinese, as an advanced public chain based on Cosmos and compatible with EVM/IBC, OKXChain plans to a…
It is reported that according to the tweet released by okxchinese, as an advanced public chain based on Cosmos and compatible with EVM/IBC, OKXChain plans to achieve sustainable growth through OKT production reduction. At present, the output of each OKC block is 0.5OKT. When the block height reaches 18123000 (March 18), it will be adjusted to 0.125. Then it will be halved every 9 months, and the total supply will be reduced to 21 million in 2028.
OKXChain officially released OKT production reduction plan
Interpretation of the news:
OKXChain is a public chain that operates on Cosmos and works in tandem with EVM/IBC. According to a tweet by OKXChinese, the company has announced plans to achieve sustainable growth by reducing the production of its OKT cryptocurrency. Currently, every OKC block generates 0.5 OKT, but this output will be reduced to 0.125 once the block height hits 18,123,000 on March 18th. The plan calls for a halving of the output every nine months until 2028, at which point the total supply of OKT will be capped at 21 million.
This approach is designed to address the common problem of inflation that many cryptocurrencies face. As more units are produced, the value of each unit tends to be diluted, leading to devaluation. By reducing the production and capping the total supply, OKXChain is hoping to create a more sustainable, predictable environment for investors and traders who use OKT for transactions.
The move is also a reflection of OKXChain’s commitment to continuous improvement and innovation. As one of the leading projects on the Cosmos network, OKXChain is always seeking ways to enhance its capabilities and provide new tools for users. By introducing a controlled approach to OKT production, the company is taking a step towards establishing itself as a reliable and stable platform that can support diverse use cases.
Moreover, OKXChain’s plan for sustainable growth through OKT production reduction signals a broader trend in the cryptocurrency industry. As more projects emerge and gain mainstream acceptance, there is a growing recognition of the need for stability and consistency in the underlying technology. By prioritizing sustainability, OKXChain is positioning itself as a valuable player in this complex and evolving landscape.
In conclusion, OKXChain’s plan for sustainable growth through OKT production reduction is a noteworthy development in the cryptocurrency industry. It reflects the company’s commitment to innovation and stability, while also addressing the issue of inflation that many cryptocurrencies face. As OKXChain continues to evolve and expand its capabilities, this move is likely to be just one of many that positions it as a leader in the emerging, blockchain-driven economy.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/3075/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
A-share opening: Shenzhen Blockchain 50 Index fell 0.96%
According to news, the A-share market opened with the Shanghai Composite Index at 3321.27 points, a decrease of 0.18%, the Shenzhen Composite Index at 11836.82 points, a decrease o
-
Euler’s Updated Redemption Plan: Differential Repayments and Open Position Compensation
On April 12th, Euler updated its previously announced user redemption plan by deciding to determine assets and liabilities based on the block height when the agreement was suspende
-
What is the English word for mining
What is mining English? What is mining English? In English, it means “mining”. That is to say, you use your machine to do some kind of data processing, and this process is realized through Computer language; Alternatively, you can use it as a calculation tool to obtain a digital currency. However, this approach is actually not as interesting: first of all, you need to remember a sentence: “I don’t have Bitcoin.” The second reason is to understand that mining is a very complex process. Mining, like the computers we use in our daily lives, also requires a certain amount of knowledge to understand, and mining is also a very simple matter. (Note: If we use Mandarin in our daily lives) Mining wordsMining is a word Bitcoin is the world’s largest Cryptocurrency and one of the most important digital assets. It is composed of a group of mainstream currencies such as BTC, ETH, LTC, and BCH, and is the process of…
-
Creepz NFT Series to be upgraded to promote ecological acceleration development.
It is reported that Overlord announced on social media that the Creepz NFT series will be upgraded comprehensively to promote the ecological acceleration devel…
-
Establishing Clear Regulatory Regulations for Digital Assets in the United States
According to reports, Republicans in the United States have written to Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), urging him to establish clear regulat
-
What does DOT limited time mining mean (dot coin mining)
<img src='https://img.doulai.com/pic/enpic.php?k=DOT limited time mining What does it mean? Imgalt=DOT limited time mining What does it mean? Images} DOT limited time mining What does it mean? According to official information, what does Polkadot (DOT) limited time mining mean? According to the official introduction, the deflation mechanism of DOT is destroyed through forking. 10% of the total supply of DOT will be locked for a year to ensure network security and ensure normal protocol operation until the entire network is fully released. Specifically, each block will be destroyed and a portion of the tokens will be allocated to users in a certain proportion, which can increase or decrease over time Therefore, DOT will generate rewards and unlocks in the form of inflation at the beginning of its launch, and a large number of trading pairs will appear every day after its launch According to official information, DOT mining will officially launch on September 18, 2020 at 4pm. It is reported that…
-
BTC-USDC Transaction Pairs Reach $50000 and Return back to Normal
On March 13, it was reported that at about 7:15 today, the price of BTC-USDC transaction pairs on the money security platform suddenly reached $50000, and then returned to normal. At present, the transaction price of BTC-USDC is US $22621.71, up 9.64% in 24 hours. The USDC price is currently quoted at US $0.9918. The BTC-USDC trading pair on the coin reached 50000 US dollars in a short time this morning Analysis based on this information:The message reports that the price of Bitcoin-USDC (BTC-USDC) transaction pairs spiked to $50000 on March 13 before returning to normal. The sudden increase in the trading price on the money security platform is intriguing as it is currently trading at around $22621.71. Furthermore, the report indicates a 9.64% increase in Bitcoin-USDC rate over the past 24 hours. At present, the USDC price is around $0.9918. The spike in the BTC-USDC trading price could have resulted from whales or large financial institutions buying large amounts…
-
Lamina1’s Ecosystem Fund Invests in Web3 Companies Building Open Metaverse Immersive Technologies
According to reports, the LAMINA1 Ecosystem Fund (L1EF) launched by the metaverse blockchain network Lamina1 has announced its first investment in two Web3 companies building open
-
Upbit’s Announcement: DAXA to Terminate Trading Support for OMG and SRM
On April 12th, according to Upbit\’s announcement, members of the Korean Digital Asset Exchange Association DAXA plan to terminate their trading support for OmiseGO (OMG) and Serum
-
Whale Alert Uncovers Massive MATIC Transfer to Coin Security
According to reports, Whale Alert data monitoring shows that 30 million MATICs have been transferred from unknown wallets to coin security.
30 million MATICs transferred from unkno -
What is Bitcoin made of (what material is Bitcoin made of)
According to BTC Manager, the invention of Bitcoin was created to solve the problems that arose during financial crises. Although it was originally designed by Satoshi Nakamoto, it was finally found to be fake in 2009, which made it worthless and unable to achieve decentralization and anonymity In this sense, Bitcoin can provide people with a safe, stable, and reliable way to store monetary assets and exchange funds; At the same time, as a Medium of exchange, it can also be used to hedge against various legal debts, depreciation of the French currency and other risks. Using blockchain technology to make Bitcoin traceable and secure; And it can also make other encrypted tokens a substitute for the world’s largest virtual commodity in circulation – gold or silver. These are all summaries and applications of the technological principles of “digital gold” that we know today, which can effectively eliminate inflation issues linked to the US dollar and other traditional worlds. In…
-
#Coinglas Data Reveals Massive Sell-Off in Cryptocurrency Market in Last 24 Hours
According to reports, Coinglas data shows that in the past 24 hours, the entire network has sold out 319 million US dollars, of which Bitcoin sold out 154 million US dollars and Et
-
Bybit Crypto Exchange Sets Its Sights on Hong Kong
On April 3rd, the Dubai based crypto exchange Bybit said that the company was working hard to establish its core Asian business in Hong Kong and planned to locate some of its resea
-
Decentralized Identity Protocol, SPACE ID, Announces Air Drop on BNB Chain
On March 19th, it was announced that the decentralized identity protocol SPACE ID released detailed rules for air drop activities. It is reported that this air drop will be conducted on BNB Chain, and will be issued to approximately 294000 addresses with. bnb or. arb domain names at the time of the snapshot. The snapshot was completed at 22:00 Beijing time on March 14, with the corresponding BNB Chain block height of 26459696 and the corresponding Arbitrum One block height of 69763080. Currently, users can query the eligibility and the number of Tokens that can be claimed. The air drop will be open for collection from March 22 to April 22. SPACE ID issues air drop rules, which will be open for collection on March 22 Analysis based on this information:The decentralized identity protocol, SPACE ID, announced on March 19th release of detailed rules for air drop activities. SPACE ID has designed a unique method for conducting air drops that…
-
Traditional Financial Companies and Cryptocurrency Custodians Primed to Benefit from US Regulatory Changes
On February 22, it was reported that due to the existing license portfolio and the credibility in handling customer funds, traditional financial companies and …
-
Snapshot Voting Approves ARFC Proposal for Aave V1 Offline Plan
On April 17th, the snapshot voting page showed that the ARFC proposal from the Aave community regarding the \”Aave V1 offline plan\” was approved with 99.98% support. The proposal pr