The clock
How the countdown works
The math, in the open: countdown = blocks remaining × 75 seconds. Real block times wobble around the target, so the estimate self-corrects on every refresh from the live chain height (3,435,137 right now). At block 4,406,400 the subsidy drops from 1.5625 to 0.78125 ZEC per block.
Supply
Emission schedule
| Era | Blocks | Subsidy per block | Notes |
|---|---|---|---|
| Launch (2016) | 1 – 653,599 | up to 12.5 ZEC | 40-block slow start, 2.5-min blocks |
| Blossom (2019) | 653,600 – 1,046,399 | 6.25 ZEC | 75s blocks, subsidy halved per block to keep emission rate |
| 1st halving (Nov 2020) | 1,046,400 – 2,726,399 | 3.125 ZEC | Canopy; dev fund v2 |
| 2nd halving (Nov 2024) | 2,726,400 – 4,406,399 | 1.5625 ZEC | NU6: 80% miners / 8% ZCG / 12% lockbox |
| 3rd halving (~Nov 2028) | 4,406,400 onward | 0.78125 ZEC | next era — the countdown on this page |
Zcash caps at 21,000,000 ZEC. 16.86M ZEC (80.3%) has been issued, emitting 1,800 ZEC per day at the current subsidy — about 3.9% annual inflation and falling with every halving.
Block reward
Where each block reward goes
- Miners · 80% — proof-of-work security
- Zcash Community Grants · 8% — ecosystem funding
- Lockbox · 12% (0.1875 ZEC/block) — protocol dev fund
Since NU6, every block's 1.5625 ZEC splits three ways: 80% to miners (proof-of-work security), 8% to Zcash Community Grants (ecosystem funding), and 12% to the lockbox — 0.1875 ZEC per block accruing at the consensus level.
Questions
Frequently asked questions
When is the next Zcash halving?
At block 4,406,400 — 971,263 blocks away. At the 75-second block target that lands around November 2028. The block subsidy drops from 1.5625 to 0.78125 ZEC.
How is the countdown calculated?
Blocks remaining × 75 seconds per block. Zcash targets a 75-second block interval, so 971,263 blocks ≈ 843 days. The date drifts slightly with actual block times, so ZecStats recomputes it continuously from the live height.
How many ZEC will ever exist?
21 million, same as Bitcoin. About 16.86M ZEC (80.3%) has been issued so far. Halvings every 1,680,000 blocks (~4 years) cut new issuance until the cap is reached.
Who gets the block reward?
Under NU6, each block's 1.5625 ZEC subsidy splits 80% to miners, 8% to Zcash Community Grants, and 12% (0.1875 ZEC) to the protocol lockbox — a development fund held at the consensus level.
What is the lockbox?
A consensus-level development reserve that accrues 0.1875 ZEC per block and currently holds 54,137 ZEC. It cannot be spent until Zcash governance defines a disbursement mechanism, so it is effectively out of circulation.
Did previous halvings move the ZEC price?
Zcash halved in November 2020 (Canopy) and November 2024. Like Bitcoin halvings, they cut sell pressure from miners mechanically — issuance drops by half overnight — but price effects are entangled with market cycles. ZecStats shows the emission math; it does not make price predictions.