According to official news, ABEYCHAIN will switch to a 100% DPoS consensus mechanism on September 1, 2022. ABEYCHAIN is phasing out the high-energy-consuming part of its verification mechanism, that is, the proof-of-work (PoW) part, and instead adopts environmental protection and energy saving. The verification process is called Delegated Proof of Stake (DPoS). This will make ABEYCHAIN a safe, efficient, scalable and environmentally friendly platform.
According to the official introduction, ABEYCHAIN will initiate a hard fork at snail block 73,500, thereby shifting to a 100% DPoS consensus. The hard fork is expected to be released on September 1, 2022. With this upgrade, the total supply of ABEY tokens will be reduced from the current 3,000,000,000 to 1,419,297,400.