We at Luxcore strive to continuously improve our products and chain and as a result we continue to expand our market. We’ve made some amazing progress with our now in beta exchange Luxgate. In addition to that, we’ve are working hard at integrating our innovative and arguably revolutionary algorithm RX2 and soon we will showcase our latest product, Luxedge. With progression like this we feel our chain’s reward system should progress with it. This is why we will be introducing a 1% block reward reduction every 125K blocks starting from the 1 millionth block. You can expect the first reward reduction to take place at block 1.125.000.
Many coins have already followed into Bitcoin’s path of halving their rewards every 4 years. While this has served Bitcoin well so far, we at Luxcore feel reward reductions should not be an ecosystem disrupting event. Speculators may drive up the price only to dump at the event, causing market disruption. Miners witnessing a halving in their rewards may move to other projects, causing hash rates to drop and possibly affecting the security of the blockchain.
By implementing these small and gradual changes to the block rewards we’re avoiding the possible negative market impact while still providing a fair chance for the entire crypto community to participate. We are very happy with these upcoming changes and we’re confident our community will be too.
Finally, please feel free to leave us your feedback, as we always welcome it!
-The Luxcore Team