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The base issuance of CKBytes are rewarded to miners for securing the network, and the reward halves approximately every 4 years until all the base issuance tokens (33.6 billion) are mined out.

How does the CKByte-Halving work?

In order to make the halving plan work as expected, a concept of time called epoch was introduced.

An epoch is a period of time for a set of blocks.

In Nervos, the PoW difficulty changes on a new epoch. All the blocks in the same epoch share the same difficulty target. The difficulty adjustment algorithm aims to stabilize the orphan block rate at 2.5% and the epoch duration at 4 hours.

Epochs per halving is 4 * 365 * (24 / 4) = 8760, and the Nth halving of CKBytes firstly occurs on epoch: the_Nth_halving_epoch = 8760 * N .

So, The CKByte halving event occurs on the specified epoch, e.g. 8760, 17520.

When will CKByte be halved?

The following table details the schedule for several upcoming CKB halvings and their corresponding base issuance rewards:

EventDateEpoch numberEpoch rewardBlock reward(Calculated based on 1800 blocks per epoch)Daily rewardTotal new CKB between events
Nervos launches16 November 20190 (genesis epoch)1,917,808 CKB1,065 CKB11,506,849 CKB16,800,000,000 CKB
First halvingExpected November 20238,760958,904 CKB533 CKB5,753,424 CKB8,400,000,000 CKB
Second halvingExpected November 202717,520479,452 CKB266 CKB2,876,712 CKB4,200,000,000 CKB
3rd halvingExpected November 203126,280239,726 CKB133 CKB1,438,356 CKB2,100,000,000 CKB
4th halvingExpected November 203535,040119,863 CKB67 CKB719,178 CKB1,050,000,000 CKB
5th havingExpected November 203943,80059,932 CKB359,589 CKB525,000,000 CKB525,000,000 CKB
6th havingExpected November 204352,56029,966 CKB179,794 CKB262,500,000 CKB262,500,000 CKB
7th havingExpected November 204761,32014,983 CKB89,897 CKB131,250,000 CKB131,250,000 CKB
8th havingExpected November 205170,0807,491 CKB44,948 CKB65,625,000 CKB65,625,000 CKB
9th havingExpected November 205578,8403,746 CKB22,474 CKB32,812,500 CKB32,812,500 CKB
10th havingExpected November 205987,6001,873 CKB11,237 CKB16,406,250 CKB16,406,250 CKB

⚠️ Note that CKB block rewards include Base (issuance) reward, Secondary (issuance) reward, Commit reward, and Proposal reward:

However, when we are discussing CKB halving, it only relates to Base issuance rewards. Therefore, the block rewards listed in the table only include the portion of rewards from base issuance to help with understanding.