Bitcoin halving is a significant event in the cryptocurrency world where the reward for mining Bitcoin transactions is cut in half. This event occurs approximately every four years, or after every 210,000 blocks have been mined. The purpose of halving is to control the supply of Bitcoin and act as an anti-inflationary measure. It ensures that the total number of bitcoins never exceeds 21 million¹.
Here's why it matters:
- **Supply Control**: Halving reduces the rate at which new bitcoins are created, thus lowering the available amount of new supply.
- **Inflation Prevention**: By decreasing the pace of Bitcoin issuance, halving helps to counteract inflation and maintain Bitcoin's purchasing power.
- **Increased Scarcity**: As the reward for mining decreases, the scarcity of Bitcoin increases, which could potentially lead to an increase in Bitcoin's price if demand remains constant or increases.
The next Bitcoin halving is expected around April 2024, when the block reward will fall from 6.25 BTC to 3.125 BTC². It's a process coded into Bitcoin's protocol by its creator, Satoshi Nakamoto, to create a deflationary economic model. The final halving is projected to occur in 2140, which will mark the release of the last Bitcoin into circulation¹.
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