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Cryptocurrency halving is the process of reducing the reward to miners for finding blocks. Most often, the decrease occurs by half at certain intervals, or more precisely, after a certain number of blocks found. Halvings allow you to algorithmically set the desired emission rate in decentralized cryptocurrencies, which will not depend on external factors.
For example, in Bitcoin, blocks are found on average every 10 minutes. Halving occurs every 210,000 blocks. This means that the reward will be halved every 2,100,000 minutes, or approximately 4 years.
Also, halving is a guarantee of providing an upper limit for the number of coins, if it is set for a cryptocurrency. For example, in Bitcoin, the total number of issued coins cannot exceed 21 million. When the halving reaches the stage where 2 Satoshi per block halved to 1 Satoshi, this will be the last stage of Bitcoin emission. 1 Satoshi can no longer be divided in half, so after this stage, the release of new coins will stop.
Before halving: 497 days 14 hours 28 minutes
Next halving date: 04/17/2024
Current blockchain height: 767254
Halving will occur on the block: 840000
Bitcoin Halving Chart
Past Bitcoin Halvings
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What is halving?
This event occurs every 210,000 blocks, which is approximately every 4 years. Halving reduces the emission reward by half.
The original reward in Bitcoin was 50 BTC per found block, for 2022 there have already been 3 halvings, and the current block reward is 3.125 BTC.
What is the halving for?
Halving allows you to maintain an algorithmically defined emission level. Anyone can make sure that no more than 21 million bitcoins can be issued using this algorithm. At the same time, everyone can see how much was issued earlier, at what speed the emission is going on now, and how many bitcoins are left to be mined in the future. Even a sharp increase or decrease in mining capacity will not be able to significantly affect this process. In this case, during the next recalculation of difficulty, which occurs every 2014 blocks, the mining difficulty will be recalculated so that the blocks are still found approximately once every ten minutes.</div >
How does halving work in Bitcoin blocks?
A miner who collects a block adds a so-called coinbase transaction. This transaction has no input, only an output with the receipt of issue coins on your account.