Helo guys welcome to my blog. Are you curious about bitcoin halving.so i did some research here an there and found this interesting datas.
Bitcoin is becoming expensive to mine day by day. And its price are also increasing as per market values.so what,how,why all this happens. Here i am sharing the important fact one should know about bitcoin halving.
FACT1#Bitcoin halving means to cut/divide the number of bitcoin mined by the miner per block to half. In order to maintain the supply of bitcoin.
FACT2# halving event occur every 4 years. When it reach 210000 block.
FACT3# A block is given to the miner every 10 minute of mining.
FACT3# 50 bitcoin was given to the miners per block at the very initial stage of bitcoin
FACT4# A total of 21000000(21 million) bitcoin to be distributed.
FACT5# The halving event to be continue till it reaches 0 bitcoin coin reward per block
FACT6# After this year halving , bitcoin reward per block is reduced from 12.5 to 6.25 per per block
FACT7# This is the third halving event that had occured from the day bitcoin was invented.
FACT8# Halving event will continue till 2140.
FACT9# There will be 32 Bitcoin halving events. Once the 32nd halving is completed, there will be no more new Bitcoin created, as its maximum supply of 21000000 will be reach.
FACT10#Miners will be rewarded with fees for processing transactions after 32th halving event . In order to ensure that miners still have the incentive to mine and keep the network going.
FACT11# First halving event occur at 28 november 2012 when it reach 210000 block height.where miner were rewarded 25 bitcoin per block. A 50% reduction from 50 BTC per block
FACT12#Second having event occur at 6 july 2016 when it reaches 420000 block height
FACT13# Third halving event occur on 11 may 2020
FACT14# After third halving bitcoin price is 9591.63 with increase in market value of 6.1%
FACT15# Next fourth halving will be on 24 May 2024 when it reaches 840000 block height and will decrease to 3.125 bitcoin reward per block
FACT16# halving is done in order to control the rate of monetary inflation.
All this data are according to my research finding from different sources like google,youtube and other crytocurrency related materials.
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Thanks for this information and great article btw on bitcoin halving. Let's see what the market has om store afterwards.