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- During the month of May, we discussed the initiation of tail emissions on Monero Network. It is live on the network now.
- Tail Emission is basically a mechanism initiated by Monero, allowing the block rewards from becoming zero.
- As of now, XMR was trading at a market value of $176.44, down by 4.14% during the past 24 hours.
Cheers Folks! Tail Emissions Are Live Now
Well it is a big time for the Monero network, and this should be exhibited on a Jumbotron. The much anticipated Tail Emissions are finally here. We have already discussed tail emissions before. Let’s recall it again.
Tail emission is the algorithm introduced by the Monero network which will eventually prevent the block rewards received from mining the Monero token from becoming zero.
In short, Tail Emission will fix the block rewards at 0.6 Monero.
The event was celebrated globally by the Monero community, and was live streamed on YouTube.
Celebrations were made in locations like Georgia, Florida, Illinois, Colorado, Nevada and New York City.
Everyone in the community is really happy and excited as they finally made it to this day.
Why Is Tail Emission So Vital?
As mentioned above, Tail Emission will prevent the block rewards from getting zero. To explain this, we can take the example of the crowned asset Bitcoin. There are a total 21 Million Billion BTC out there, out of which more than 19 Million of them have already been mined.
Sure, mining the remaining BTC will take a lot of time, but as soon as all the coins are mined, the block reward will eventually become zero. That’s right. Now why does it matter? Because the Bitcoin network will solely depend on the user transactions, compromising the security of the network.
This move by Monero network makes sure that miners are always available on the network, keeping the security intact. I mean, why would a crypto miner visit any network which would not offer any rewards in exchange of his/her time and cost put into the operation.
Tail Emission is the first ever attempt by any ecosystem in the sphere, and the community is really happy about it. We will see how this unique concept will play out, we just hope it won’t let the community down, and will match up to folks’ expectations.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
