Bitcoin halving refers to the process where the reward for mining new blocks on the Bitcoin network is halved. It occurs approximately every four years or after every 210,000 blocks are mined. The purpose of the halving is to control the supply of Bitcoin and ensure its scarcity over time. As the reward decreases, it becomes harder for miners to acquire new Bitcoin, which can potentially influence the price as demand remains constant or increase .
Bitcoin halving is an event programmed into the Bitcoin protocol that occurs approximately every four years. During a halving, the reward that miners receive for verifying transactions and securing the network is cut in half. This reduction in block rewards helps control the supply of Bitcoin, ultimately influencing its scarcity and potentially affecting its price. The halving mechanism is designed to gradually decrease the rate at which new Bitcoin is created, with the aim of reaching the maximum supply of 21 million coins. #BTC #Write2Earrn #LUNA #xrp #ICP