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This is a rare occasion indeed. Toncoin has announced that 5B Toncoins have been ToS mined on their Blockchain.
All is mined now what?
As the last Toncoin was mined on June 28th, now the only way for new Toncoins to enter circulation is by PoS validation.
Tens of thousands of miners have mined the entire issuance of Toncoins, which was about 5 billion tokens, -TON Foundation founding member and core developer Anatoly Makosov
Only having PoS validation will drastically limit the influx of new coins to about 200,00 per day, or around 25% of the previous daily mining. And of course, this news had an immediate effect on the price of Toncoin as it jumped 34% over the past 24 hours.
Ton has been a bit special in other regards as well. And that is they have always been a PoS Blockchain.m Hold on, I just said that all Toncoins have been mined. But if they are a Proof of Stake Blockchain how is that possible?
The TON blockchain has always been proof-of-stake; the novelty is that even in a PoS blockchain it is possible to write a smart contract that can be mined according to PoW principles -Anatoly Makosov
Well by the use of smart contracts. They put Ton into smart contracts that they could be mined. And this is the first I have ever heard of this being done. al tho I am not surprised that someone figured out a way to do it. =)
Is this the first Blockchain you know of that has been mined to completion, or do you know of others as well? Please share with us int he comments down below.
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