Halving is one of those large-scale events in the Bitcoin Universe which everyone likes to speak about. For every four years approximately, the amount that miners receive for their services of adding new chunks to the blockchain of bit currency halves. Thus the existing one sees that if miners were earning 12. Initially, they would be paid 5 BTC per block; that after halving, they would only receive 6. 25 BTC. This occurs approximately every 210,000 blocks and is programmed into the Bitcoin protocol in order to control the supply of the currency by slowing its creation and possibly increasing the demand for the currency thereby increasing its value.
The idea behind halving is pretty simple: but dividing the rate of new bitcoins over time, slows down the supply and makes each coin that is available a little more valuable – at least that is the theory. The last time it was in May this year and it was rather significant because it reduced the block reward from 12. 5 BTC to 6. 25 BTC. These halvings are something of marker points in the evolution of the Bitcoin system, and each one has the potential to shift whole markets and the price of Bitcoin.
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