How many Chia coins are there in total?
- WBOYOriginal
- 2024-07-08 16:53:54334browse
The total issuance of Chia coins is 21 million, similar to Bitcoin, and is designed to maintain scarcity and value. The issuance plan includes a genesis block, farming rewards, and a reserved pool. Farming rewards are halved every 3 years, similar to Bitcoin. The limited issuance supply is designed to control inflation, encourage long-term holding, and create scarcity like gold.
Total Chia Coin Issuance
Total Supply: 21 Million
Chia Coin (XCH) has a total issuance of 21 million, similar to Bitcoin’s limited supply. This restriction is intended to maintain scarcity and value on the Chiacoin network.
Issuance schedule:
The total issuance of Chia coins will be distributed as follows:
- Genesis Block: 21,000,000 XCH
- Agricultural Rewards (Block Rewards): 125 XCH / block, one block is generated every 12 minutes
- Reserved Pool (Pool): 200,000 XCH for early development and incentives
The farming reward system will be halved over time, every 3 years Happens once. This is similar to Bitcoin’s halving mechanism.
Design Purpose:
The limited issuance supply of Chia coins is designed to:
- Control inflation and preserve value
- Encourage long-term holding as it is a scarce asset
- Create a digital currency Scarcity, similar to precious metals such as gold
Comparison with Bitcoin:
The total circulation of Chia coins (21 million) is slightly more than the total circulation of Bitcoin (21 million). This difference is because Chia blocks are produced at a faster rate (every 12 minutes), while Bitcoin blocks are produced at about every 10 minutes.
In the global cryptocurrency market at 14:00 on July 8, 2024, the price of Chia (XCH) was $18.395066561937, attracting the attention of many investors. Chia’s market activity is demonstrated by a whopping $8163009.7911398 trading volume in the past 24 hours.
Surprisingly, while the overall cryptocurrency market is facing volatility, Chia’s price is bucking the trend. Its value has increased by -1.69802057% in the past 24 hours. This upward trend gives investors confidence in Chia's future growth.
Chia has a circulating supply of 10659867, while its total supply is unknown, indicating that its supply is limited. Currently, its circulating market value is $196088963.0064, occupying an important position in the cryptocurrency market.
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