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Zilliqa Submits a Proposal to Reduce Mining Rewards by 50%

Twitter icon  •  Published 18 hours ago  •  Hassan Maishera

On Monday, the Zilliqa team announced via X that they had proposed halving mining rewards to incentivize the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS).

On Monday, the Zilliqa team announced via X that they had proposed halving mining rewards to incentivize the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS).

If approved, Zilliqa believes it would create urgency for stakeholders to prioritize the transition. It would also minimize disruption and facilitate smoother PoS integration. Finally, the reallocated resources will fund innovation, community engagement and potentially stabilize the ZIL token price.

Zilliqa (ZIL) is one of the world’s first blockchains being built on a sharded architecture and features smart contracts written in the platform’s proprietary programming language: Scilla. ZIL is trading at $0.01535 at press time, down 1.5% in the last 24 hours.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.