#BTc The next Bitcoin fork is expected to occur in April 2024. During this fork, the Bitcoin mining reward will be split in half. It takes about four years for the blockchain network to unlock an additional 210,000 blocks, a standard set by blockchain creators to continually reduce the inflow rate of cryptocurrencies.

The first reward was 50 Bitcoin. The dates of the previous division were determined as follows:

The next fork is expected to occur in April 2024, when the block reward will decrease to 3,125 BTC.

As of March 2024, there were around 19.65 million bitcoins in circulation, of which only around 1.35 million remained to be issued via a mining reward.

To understand the Bitcoin fork, you must first know how the Bitcoin network works. Bitcoin's underlying blockchain technology is based on a network of computers (known as nodes) that run Bitcoin software and contain a partial or complete record of the transactions that occur on their network. Each full node contains the complete transaction history in Bitcoin and is responsible for approving the transaction on the Bitcoin network. To do this, the node performs a verification to guarantee the validity of the transaction. These include ensuring that the transaction contains the correct verification parameters and does not exceed the required duration.

Each transaction is approved individually. This is done only after approval by all parties.