Just like Bitcoin (BTC) undergoes a “halving” event every four years, Ethereum Classic (ETC) experiences a “fifthening” event every two years—a 20% reduction in block rewards for miners.
This mechanism, similar to Bitcoin’s, is pivotal for ETC’s monetary policy, ensuring a predictable and diminishing supply until the maximum cap of 210.7 million ETC is reached.
👉 Discover how ETC’s scarcity compares to Bitcoin’s
What Is Fifthening?
Fifthening refers to Ethereum Classic’s programmed reduction of block rewards by 20% every 5,000,000 blocks (approximately two years). Here’s how it contrasts with Bitcoin:
Feature | Bitcoin (BTC) | Ethereum Classic (ETC) |
---|---|---|
Reward Reduction | 50% every 210,000 blocks | 20% every 5,000,000 blocks |
Frequency | ~4 years | ~2 years |
Total Supply Cap | 21 million | 210.7 million |
This deflationary model enhances ETC’s scarcity, lowering its inflation rate from 4.26% to 3.41% post-fifthening.
Tracking the Next Fifthening
The fifth ETC fifthening is expected between May 27 and June 11, 2024, at block 20,000,000. Key details:
- Current Block Height (Feb 2024): 19,351,247
- Blocks Remaining: 648,753
- Estimated Time: 97–113 days (assuming 13–15 sec/block).
👉 Track real-time ETC block progress here
How to Calculate the Date
- Using 15-second block time:
-
Blocks left × 15 sec = 9,731,295 seconds (112.63 days → June 11).
-
Using 13-second block time:
- Blocks left × 13 sec = 8,433,789 seconds (97.61 days → May 27).
Why Fifthening Matters for ETC
- Scarcity: Reduced supply growth mirrors Bitcoin’s hard-money principles.
- Security: Proof-of-Work (PoW) ensures costly, fair coin creation.
- Utility: Smart contracts make ETC “programmable digital gold.”
Post-fifthening, ETC’s inflation drops to 3.41%, benefiting long-term holders.
FAQ
1. How often does ETC’s fifthening occur?
Every 5,000,000 blocks (~2 years), reducing block rewards by 20%.
2. What’s ETC’s total supply?
Capped at 210.7 million coins, reached gradually via fifthenings.
3. Does fifthening affect ETC’s price?
Historically, reduced supply has correlated with bullish trends, though market conditions vary.
4. How does ETC differ from Ethereum (ETH)?
ETC retains PoW and a fixed supply; ETH switched to PoS and has no hard cap.
5. Where can I track ETC’s fifthening countdown?
Sites like etcis.money provide real-time data.
6. Is ETC a good investment post-fifthening?
While scarcity may boost value, always conduct independent research before investing.
Conclusion
Ethereum Classic’s fifth fifthening in mid-2024 marks another step toward its 210.7 million ETC supply cap, reinforcing its role as programmable, scarcity-driven digital gold.
👉 Explore ETC’s investment potential today
Note: All external links except OKX have been removed per guidelines.
“`