Bitcoin’s Halving: The Mystery of Digital Gold’s Supply
Bitcoin’s halving is a long-scheduled event that occurs approximately every four years, more precisely, every 210,000 additional blocks. When this event occurs, the rewards miners receive for adding new transactions to the blockchain will be halved. Initially, the reward is 50 Bitcoins per block; then it is reduced to 25, then 12.5, and then the subsequent halving, which is 6.25. The halving event in April 2024 will further reduce this reward.
The idea behind this halving is to control inflation and mimic the scarcity of resources like gold. As fewer new Bitcoins are introduced into circulation, scarcity will drive demand higher and, subsequently, the price. What's the mystery behind this phenomenon? In this article, we’ll take a deep dive into Bitcoin’s halving event and its significant impact on the cryptocurrency world.
