We are delighted to announce that aelf's first halving is scheduled to take place at about 7:30AM on 12 December 2024 (GMT), at an approximate block height of 246500000 on the aelf MainChain.
In accordance with aelf's original vision and design, the aelf foundation has distributed 12% of the total ELF tokens in accordance with the white paper for community governance rewards. A segment of these rewards is designated for production nodes, based on their contribution to block production. The block reward amount is set to halve every four years.
The aelf blockchain operates with high efficiency, producing eight blocks every four seconds. During the first to fourth year of the aelf mainnet operations, each block initially generates 0.125 ELF as a reward. As we move forward into the next phase of the aelf blockchain's evolution—the fifth to eighth year—each block will generate 0.0625 ELF as a reward.
This upcoming halving represents a significant milestone in the development of the aelf network, marking the culmination of the first four years of secure and stable mainnet operations. It will also signal aelf’s commitment to sustainable, long-term growth, showcasing the robust vitality and resilience of aelf's Layer 1 AI blockchain.
For more details about aelf's halving, please refer to the aelf Economic and Governance Whitepaper.
About aelf
aelf, an AI-enhanced Layer 1 blockchain network, leverages the robust C# programming language for efficiency and scalability across its sophisticated multi-layered architecture. Founded in 2017 with its global hub in Singapore, aelf is a pioneer in the industry, leading Asia in evolving blockchain with state-of-the-art AI integration to ensure an efficient, low-cost, and highly secure platform that is both developer and end-user friendly. Aligned with its progressive vision, aelf is committed to fostering innovation within its ecosystem and advancing Web3 and AI technology adoption.
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