Semux is a blockchain platform powered by 'Semux BFT' consensus algorithm.
Its native cryptocurrency is called SEM.
SEM is a fundamental asset for operation of Semux platform, which thereby provides a public distributed ledger for transactions. SEM is used to pay for transaction fees and as a fuel for running decentralised apps. Another crucial use case for SEM is the consensus algorithm. SEM is used for voting on Validators who forge new blocks and verify the transactions.
New SEMs are created each time a validator forges a new block.
Once maximum supply is reached, new SEM will no longer be created.
Validators receive the block reward as well as all fees contained in the block.
Block 0 - 2,000,000 : 3 SEM
Block 2,000,001 - 6,000,000 : 2 SEM
Block 6,000,001 - 14,000,000 : 1 SEM
Block 14,000,001+ : 0 SEM
After the 14th million blocks, Semux will transition to a fee market.
The max supply of SEM cryptocurrency is capped at 32,000,000 SEM.
| Purpose | Amount | Note |
|---|---|---|
| Block Rewards | 22,000,000 SEM | To be distributed to Semux validators |
| Foundation | 5,000,000 SEM | Development, marketing, promotion and bounties |
| Community | 5,000,000 SEM | Have been distributed to the community: Alpha/Beta/RC test participants, bitcointalk/BTC/ETH aidrdrop, etc. |
- Circulating Supply: http://api.semux.org/circulating-supply
- Total Supply: http://api.semux.org/total-supply
- Max Supply: http://api.semux.org/max-supply