Bitcoin News is reporting that as of now, 16.6 million Monero (XMR) have been mined. Considering that the total supply that will ever exist is only 18.4 million, that means over 90% of all Monero has already been mined. What happens when there’s no more to mine?
Bitcoin one day will face a similar issue, but Monero’s is much more immediate. By May 31st 2022 all the Monero to ever exist will have been mined. Technically Bitcoin won’t face this for over 120 years. However unlike Bitcoin, which is relying on transaction fees to pay miners after there is no more coin to mine, Monero has a plan called ‘tail emission.’
What tail emission entails is giving miners a flat rate of 0.6 XMR for every block mined after May 31st. This willl hopefully incentivize miners sufficiently to continue to secure the network.
Will this plan be sufficient to keep the blockchain thriving after 2022? We will just have to wail and see! Stick with Chepicap for all updates on this situation in the coming years!