OKXChain plans 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
Analysis based on this information:
The recent tweet by okxchinese reports that OKXChain is planning to achieve sustainable growth through OKT production reduction. For those who may not know, OKXChain is an advanced public chain which operates on Cosmos and is compatible with EVM/IBC. The chain’s plan is to reduce the output of each OKC block to 0.125OKT after the block height reaches 18123000 on March 18th.
Furthermore, the ultimate goal of this reduction in OKT production is to halve output every 9 months and reduce the total supply to 21 million by 2028. At the moment, the output of each OKC block is 0.5OKT, which implies that the OKT production rate will reduce by 75% following the upcoming block reduction. According to the tweet, the decision to reduce OKT production was made to attain stable and sustainable growth for OKXChain, with its ultimate goal being to limit inflation in its currency and increase its value.
The decision of OKXChain to reduce its production of OKT isn’t a new phenomenon in the cryptocurrency market. Previous events in the market demonstrate that when there is a reduction in cryptocurrency supply, a surge in price usually follows. A popular example of this is Bitcoin’s supply reduction in May 2020, known as the halving. The reduction in Bitcoin’s supply saw an increase in demand and led to a massive surge in the value of the cryptocurrency shortly after.
In conclusion, the announcement made by OKXChain could potentially be a significant step towards promoting sustainability in the blockchain industry. The decision to limit the production of its cryptocurrency could lead to stable growth for OKXChain, with a potential increase in the value of its currency. This decision could also serve as an example to other players in the industry who may be considering similar measures.
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