Beam Halving
NagatoDharma

Beam Emission Schedule – 2 Months Left for the First Halving

Next Halving: Jan 4, 2020.

Beam is designed to be a deflationary coin with capped supply, halving every four years and stopping emission altogether after 133 years.

Beam’s emission schedule is largely inspired by Bitcoin’s. The main differences are that there are 10 times more blocks and that Beam’s first-year emission is 100 Beam coins per block. The first halving occurs after 1 year, and then halvings occur every 4 years, 33 times in total.

Emission is actually denominated in Groth, the smallest unit of Beam. Groth is named so as a tribute to Jens Groth, a renowned computer scientist, and cryptographer who, among other things, laid some of the groundwork for zero-knowledge proofs. One Beam contains 100,000,000 (one hundred million) Groth.

The total supply is 262,800,000 Beam coins, or 26,279,999,976,873,600 Groth.

There is no pre-mine or ICO, so at the time of Beam mainnet launches with 0 coins in existence

In the first five years of existence, Beam coin emission is split between Miner Rewards and the Treasury.

Miner Rewards

During the first year of Beam existence, miner reward will be 80 coins per block. In years 2–5 the reward will be 40 coins per block. In year 6 the reward is reduced to 25 coins, and then halving will occur every 4 years until year 129. After year 133, Beam emission will stop.

Treasury

During the first five years of Beam existence, additional coins are emitted into the Treasury for every mined block.

In the first year, the 20 Beams per block are emitted to the Treasury, and in years 2–5 the Treasury will receive 10 coins per block.

The Treasury will be used to repay Beam investors, incentivize the Core Team and to support the Beam Foundation (largest single beneficiary of the Treasury).

Beam Treasury Distribution

The distribution of the Treasury Coins is performed on a monthly basis in the following proportion:

Investors: ~35%

Beam Core Team and Advisors: ~45%

Beam Foundation: 20% (Biggest single beneficiary)

The coins are distributed from the treasury on a monthly basis.

Emission Curve

Beam emission curve is shown below:

Beam Emission Curve

As can be seen from the chart, about 90% of all Beam coins are issued during the first 13 years of existence.

We believe that by basing Beam’s emission curve on Bitcoin’s model helps establish Beam as a strong Store-of-Value and eventually Means-of-Exchange coin.

Appendix

Beam Emission Table is available for view on Google Sheets here.

This article was originally posted here: https://medium.com/beam-mw/mimblewimble-emission-schedule

Beam is a privacy-focused cryptocurrency using the MimbleWimble protocol.
You can learn more here:

Tags: Beam, Privacy

Share this post

Share on twitter
Twitter
Share on facebook
Facebook
Share on reddit
Reddit

Latest articles

More from this category

Leave a Reply

Your email address will not be published.

Categories

Newsletter