What Is a Bitcoin Halving?🤔🤔🤔
Bitcoin halving is a prescheduled event where the reward for mining and verifying new blocks is reduced by 50% and miners earn only half the number of BTC per mined block. Scheduled to take place every 210,000 blocks, or approximately every four years, Bitcoin halvings continue until the network has produced the maximum total supply of 21 million BTC.
Bitcoin Halving History -
Since Bitcoin's launch in 2009, the mining reward has been halved four times. The first halving in November 2012 cut the reward from 50 BTC to 25 BTC. Subsequent halvings occurred in July 2016 (12.5 BTC) and May 2020 (6.25 BTC). Most recently, the reward was halved again in April 2024, bringing it down to 3.125 BTC per block. These halvings are essential to Bitcoin's scarcity and control inflation, ensuring the total supply never surpasses 21 million coins and aligns with its deflationary principles.
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