About Zilliqa

TL;DR Monthly Halving of Mining Rewards: Starting October 2024, Zilliqa will reduce mining rewards by 50% each month, aiming to align miner incentives with the upcoming Proof-of-Stake (PoS) transition. Community-Driven Decision: The halving mechanism was approved by a decentralized governance vote, with 97% of gZIL holders supporting the change, reflecting strong community commitment.

Public blockchain network Zilliqa has activated a new mechanism that will see mining rewards halved for the next three months. On Oct.

Zilliqa has announced that the community proposal to halve monthly mining rewards has passed, marking a significant step as the project prepares to transition to a proof-of-stake (PoS) network. The news boosted Zilliqa's (ZIL) price, which surged 8% in the past 24 hours, reaching levels last seen in late September.

The crypto market adopted a bearish outlook following the recent economic figures. Early today, the United States Bureau of Labor Statistics revealed that the yearly inflation jumped to 2.4% and up 0.2% in September, surpassing market expectations.

Zilliqa has announced a “permanent fix” to a bug problem that caused the blockchain to halt transactions over the weekend. Developers for the project explained via a tweet on X that they were resolving a bug that disabled the network from creating new blocks.

The Zilliqa blockchain network faced back to back systems bugs last week which led to complete halting of block production. The development team has restored the blockchain for validators.