The block height of 210,000 in the context of Bitcoin halving refers to the specific block number at which the Bitcoin mining reward is halved. In the Bitcoin network, approximately every 210,000 blocks mined, the reward that miners receive for validating transactions and adding new blocks to the blockchain is reduced by half. This event is known as the "halving" and is programmed into the Bitcoin protocol as a way to control the issuance of new Bitcoins and ensure scarcity in the long term. The first halving occurred at block height 210,000 in November 2012.
🎉 Welcome to a Post-Halving World 🎉
The much-anticipated fourth Bitcoin halving is now a part of history, and here's what it has brought us:
At block 840,000, the miner's reward was successfully halved from 6.25 to 3.125 BTC per block. This historic block was mined at 02:09 Central European Time, boasts a size of 2.33 megabytes, and contains approximately 3063 transactions.
The outcome?
The daily production of new Bitcoins is now halved to 450 BTC, and Bitcoin's inflation rate has dropped from 1.8% to just 0.85%.
🥇 In comparison, the stock of gold, Bitcoin's physical counterpart, grows by an estimated 1.6% annually, with a steady trend.
Bitcoin has thus reached a new milestone and is officially scarcer than gold.
After the halving, comes the anticipation of the next.
The fifth coming halving is scheduled for the year 2028 at block 1,050,000, which will further reduce the block reward to 1.5625 BTC.