The term "Bitcoin halving" refers to a phenomenon that happens on the Bitcoin network roughly every four years.
💎The reward for mining new Bitcoin blocks is cut in half during a halving.This decrease in block rewards is built into the Bitcoin protocol as a method to regulate the creation of new bitcoins and guarantee a finite supply.
💎👉The block reward was reduced from 50 to 25 bitcoins in the first Bitcoin halving in 2012.
👉The reward was further decreased to 12.5 bitcoins per block after the second halving in 2016.
👉On May 11, 2020, the reward was reduced to 6.25 bitcoins per block in the most recent halving.
🧨By halving the supply every two years, Bitcoin aims to gradually increase scarcity. By cutting the rate at which new bitcoins are created, it aims to counter inflation and increase the value of existing bitcoins. The halving events are also significant because they mark key milestones in Bitcoin's history and serve as a reminder of its decentralized and predictable monetary policy.
👑 It's important to note that the information provided here is accurate up until September 2021, and the most recent halving mentioned was in May 2020. For the most up-to-date information on Bitcoin halvings, it is recommended to refer to reliable sources or check the latest news and developments in the place
