100 blocks remain until Bitcoin halving
The excitement in the cryptocurrency community is mounting as one of the most important events in the crypto industry – Bitcoin (BTC) halving – is just hours away, with only 100 blocks left before the reward for mining the flagship decentralized finance (DeFi) asset cuts in half.
Indeed, although predicting the exact Bitcoin halving dates is challenging, the more accurate method of understanding when this will happen is counting down the leftover blocks to be mined, and the Bitcoin block reward halves every 210,000 blocks – coinciding with a period of roughly four years.
As a reminder, Bitcoin’s original creators have introduced this scheduled reduction mechanism to decrease the number of new Bitcoin coins going into circulation and keep the supply in check, limiting it to a finite total supply of 21 million BTC and setting it apart from conventional fiat currencies.
When is next Bitcoin halving?
Hence, after the first Bitcoin halving in November 2012, which reduced the mining reward from 50 to 25 BTC per block, the following event happened in July 2016, when it dropped from 25 to 12.5 BTC. The third halving event occurred in May 2020, reducing the block reward by another 50%.
Specifically, the next Bitcoin halving will further reduce this reward – to 3.125 BTC and will happen at exactly 840,000 blocks mined. According to data from multiple Bitcoin halving countdown platforms, there are now fewer than 100 blocks left until this comes to pass.
The cryptocurrency exchange WhiteBIT didn't stay behind and launched a highly viral campaign with the hashtag hahahalving_WhiteBIT. It turned out to be very creative and with good cash prizes.
