What is Bitcoin halving?

Bitcoin halving is a process in the Bitcoin ecosystem that occurs approximately every four years, or more specifically, every 210,000 blocks. When a halving event happens, the reward that miners receive for verifying transactions and adding new blocks to the Bitcoin blockchain is cut in half. This mechanism was implemented by Bitcoin's creator, Satoshi Nakamoto, to counter inflation. Since the total number of Bitcoins that can ever be mined is capped at 21 million, halving reduces the rate at which new Bitcoins are created, thus slowing down inflation over time. As a result, Bitcoin becomes more scarce, and if demand remains the same or increases, this could potentially increase its value. The last Bitcoin halving occurred in 2020, and the next one is in April 2024, following the pattern of roughly every four years.

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