[Hong Kong, February 25, 2024] Abelian and PQA Labs successfully co-hosted the "Beyond the Quantum Boundary" social event last week, bringing together more than 100 industry leaders, technical experts and community members to discuss the latest developments and future trends in quantum-resistant blockchain technology.
The event focused on quantum-safe blockchains, cutting-edge Layer 1 and Layer 2 solutions, and innovative applications of stablecoins. The guests had in-depth exchanges on hot topics in the industry. The atmosphere at the event was warm, and the collision of ideas stimulated innovative thinking, laying an important foundation for promoting the development of blockchain technology.
Key speeches to promote the future development of blockchain
Dr. Duncan Wong, one of the founding members of Abel Chain, delivered a keynote speech at the event, deeply analyzing how to build a sustainable blockchain ecosystem and the updated token economic model. The optimization plan he proposed will not only enhance the long-term sustainability of Abel Chain, but will also further enhance its quantum resistance and privacy protection framework, providing a more solid security guarantee for the global decentralized ecosystem.
Abel Chain Token Economic Model Update
As part of our long-term development vision, we are making key adjustments to tokenomics to further improve stability, sustainability, and optimize the supply distribution of tokens. These optimizations not only consolidate its quantum-resistant characteristics and privacy protection framework, but also reduce inflationary pressure through a sustainable supply release mechanism and ensure long-term incentives for miners and network participants. The adjustment of the economic model reflects Abel Chain's firm commitment to building a strong, decentralized, and future-oriented blockchain infrastructure.
Quartering replaces traditional halving – After the block height of 400,000 is completed, the mining reward will be significantly reduced from 256 ABELs per block to 64 ABELs. Starting from the second mining cycle, the mining reward will resume the traditional halving mechanism, that is, at the end of the second mining cycle, the mining reward will be further reduced from 64 ABELs to 32 ABELs.
Mining Cycle Duration Doubled – Starting with the second mining cycle, the number of blocks per cycle will increase from 400,000 to 800,000, meaning the second mining cycle will last 6.5 years.
Total Mining Duration Extended – The mining cycle has been extended from 32.5 years to 62 years, ensuring a smoother, more sustainable token release mechanism.
Total Supply Remains Unchanged – The total supply of ABEL tokens remains fixed at 225.2 million, ensuring long-term scarcity and value stability.
Token Supply Release Slowed – Due to the extended mining cycle, the rate at which new ABEL tokens are issued will slow, helping to maintain market stability.
Mining Reward Adjustment – Block rewards will be reduced from 256 ABELs to 64 ABELs, in line with our strategy to create a more balanced and deflationary economic model.
Looking Forward
AbelChain would like to thank all partners, speakers and community members for their support in making this event a great success. In the future, AbelChain will continue to be committed to promoting the innovation and application of quantum-safe blockchain technology, and work with industry partners to jointly shape the decentralized future. Please stay tuned for more latest developments and move towards a new era of blockchain with us!
About AbelChain
AbelChain is a Layer1 quantum-resistant blockchain infrastructure, digital gold 2.0, and empowers the post-quantum cryptographic ecosystem. For more information about the quantum-resistant Abel Chain blockchain and the economic model of the $ABEL token, please refer to our documentation page for more details.
Abel Chain welcomes feedback on technical development and upcoming updates. Join us, participate in the discussion, and learn more by visiting our social media and community channels, click the linktree below for details: https://linktr.ee/officialpqabelian
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