Title: Understanding the Bitcoin Block Reward Halving Process Bitcoin, the leading cryptocurrency, is known not only for its decentralized architecture and strong security, but also for its unique monetary policy, which includes a phenomenon known as “block reward halving.” This event is pivotal in shaping the Bitcoin economy and impacts market dynamics, community engagement, and public perception of the digital asset. The Bitcoin network operates on a proof-of-work consensus mechanism, where miners solve complex mathematical problems to validate transactions and create new blocks. In return for their efforts, miners are rewarded with new bitcoins. Initially, when Bitcoin was launched in 2009, the block reward was set at 50 bitcoins per block. However, this reward is subject to a predetermined reduction every 210,000 blocks—a process known as halving—which occurs approximately every four years. So far, Bitcoin has undergone three halving events: in 2012, 2016, and 2020, which reduced the rewards to 25, then 12.5, and finally to 6.25 bitcoins per block.