What is BTC halving?

A Bitcoin halving is an event that occurs when the reward for mining Bitcoin transactions is cut in half. This happens roughly every four years after the network mines 210,000 blocks. The next halving is expected to occur in April 2024. 

The halving policy was written into Bitcoin's mining algorithm to counteract inflation by maintaining scarcity. The mining reward, or subsidy, started at 50 BTC per block when Bitcoin was created in 2009. The amount drops in half each time a new halving takes place. In May 2020, the amount of new Bitcoins added to the network was halved from 12.5 to 6.25. In April 2024, it will drop again to around 3.125. 

The process will continue until all 21 million coins have been mined, which estimates say should happen around the year 2140. At that point, miners will be rewarded with fees for processing transactions. 

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