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Pegascoin to Reduce Mining Rewards Sooner Than Later

In Alt-Coin, Cryptocurrency, PegasCoin
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An earlier JustHash article detailed the uniqueness of the Pegascoin, which features a hodge-podge of a masternode, POS, and POW called the DOB2.0. The Depository on the Blockchain coin has recently sparked a lot of interest and a lot of hashrate as the new DOB2.0 is set to arrive within the first week of April.

The Pegascoin discord is a fairly active community and very supportive of the single developer of DOB, DOB2.0, and PGC<>ETH Exchange.  As crypto continues to sit in a bear market, some members have begun to discuss ways to elevate the value of Pegascoin. Some members of the community feel that the coin’s value on exchanges are remaining stagnant because it is way too easy to mine this coin due to its high rewards (block reward = 25 $PGC, block time = 30secs).  The original reward drop from 25 $PGC to 5 $PGC was set to happen on the 990,000 block which would occur around August.  Many members of the community feel that this amount of time allows for anyone to quickly mine up 51,000 $PGC, create a Deposit Account (DAC), and water down the daily payouts of the DOB2.0.  Members also believe that people are not buying the coin on the exchanges because it is just too easy to mine.

Pegascoin listened to the community members concerns and quickly responded with a poll that allowed for members to cast a vote for the reduction reward of the miner to 5 $PGC after block 555555 or 666666. Thus, each block would reward 9 $PGC. 4 $PGC = DOB Reward and 5 $PGC = Miner Reward.

The poll remained open for around 24 hours.  During that time many debates occurred in the “off-topic” channel.  Some miners said they planned around the original roadmap and won’t be able to accumulate enough $PGC to get a spot in DOB2.0.  While others insisted that this will be great for the value of the coin in the long run. Although many community members disagreed with each other, it was very respectful dialogue and the common consensus is that everyone supports and has strong faith in Pegascoin.

The voting stopped today at 14:00 UTC and the results are shown below:

The main developer stated “the result is obvious, most voters want a reduction in reward as soon as possible.  This result was not new and was visible from the first minutes of voting.”

The change will occur on the 555,555 block. Hodlers must update their wallets to version 1.5 and their gpg to version 1.2 before block 555,555.

As always make sure to give me a follow on twitter @CoachCryptos and Happy Mining!

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