Bitcoin halving is the concept of decreasing the block rewards distributed to the miners in half. The network is scheduled to undergo Bitcoin halving automatically after every 210,000 blocks and reduce the rewards by 50%. On average, one block takes 10 minutes, and the halving event occurs after 210,000 blocks.

What will the Bitcoin halving do?

What is ‘the halving’? Simply put, a Bitcoin halving is the process of halving the rewards of mining Bitcoin after each set of 210,000 blocks is mined. By reducing the rewards of mining Bitcoin as more blocks are mined, a Bitcoin halving limits the supply of new coins, so prices could rise if demand remains strong.

Do you get more Bitcoin after halving?

Every Bitcoin user and miner is well-aware of the term Bitcoin halving and what it means to Bitcoin. The halving is the name for one of the most highly anticipated events in Bitcoin’s history. This event affects just how much Bitcoin is in circulation so it doesn’t increase exponentially.

When Have the Halvings Occurred?

The first Bitcoin halving occurred on Nov. 28, 2012, after a total of 10,500,000 BTC had been mined. The next occurred on July 9, 2016, and the latest was on May 11, 2020. The next is expected to occur in early 2024.

Seven Key Things You Should Know About The Halving Of Bitcoin

1) The halving is a planned part of one of Bitcoin’s central tenets: controlled money supply and deflationary economics

2) The current block reward of Bitcoins is 12.5 BTC per block. After the halving it will be 6.25 BTC per block.

3) Halving day in 2012 showed significant price movement after-the-fact, but it was little noticed. Halving day in 2016 moved markets in a way that was significantly amplified

4) Bitcoin miners will be affected by halving, though most will likely have planned for this event

5) This is a very unique moment for a halving of Bitcoin

6) Other cryptocurrencies like Litecoin have halving as well — while they have different features, deflationary economics is at their core too

7) Technically, the money supply of 21 million Bitcoins is more of an asymptote: the real principle behind the halving is a steadfast adherence to principles sett in code vs. arbitrary policy execution

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