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The process of the 4-year cycle mechanism is that it decreases the rate at which new Bitcoins are created, ensuring a steady supply in circulation. Bitcoin halving schedule is set to four years and occurs every 210,000 blocks, the reward for mining new blocks is cut in half, from 50 to 25 to 12.5 and so on.
Halving cycles are designed to keep inflation low and maintain the value of Bitcoin over time. This helps ensure that miners have incentive to continue supporting the network, and helps protect against market manipulation or hoarders accumulating more than their fair share of coins.
This activity may not be available in your region. • All rewards are distributed on a first come first serve basis, with limited redemptions available. • All unclaimed rewards at the end of the event period will be forfeited. There will be caps imposed on the amount of rewards available to eligible users per country/region. • Only users who registered through this event will be eligible for the new user missions. • Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order to qualify for rewards. • Users who refer newly registered Binance users will qualify for a bigger reward amount of but all registrations must be done via the Binance App. • Each eligible participant may receive a maximum limit of ONE reward per unique user and a maximum of 10 rewards received throughout the campaign period. Users may only receive one reward from each user on a daily basis, but are free to open rewards collected from several unique users within the same day. • Newly registered users must complete a trade of at least USD100 (excluding trading fees) in order to redeem the reward. Eligible trading activities include Spot, Futures, Margin, BLVT, Options, Liquidity Swap Trade, FanToken, OCBD, OTC & Convert. • New User Trade Rewards limited to the first 6000 participants. Rewards from the New User Trade mission will be distributed via Rewards Hub 14 Working days after the event has ended. • Each eligible user may share additional content posts in order to unlock more rewards. • Users can view their rewards in their Binance Pay Wallet. • Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. • Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.
The article "Bitcoin: A Peer-to-Peer Electronic Cash System" by Satoshi Nakamoto proposes a system for electronic transactions without relying on trust. The system uses a peer-to-peer network and proof-of-work to record a public history of transactions that becomes computationally impractical for an attacker to change if honest nodes control a majority of CPU power. The network is robust in its unstructured simplicity, and nodes work together without needing to be identified. The proposed system addresses the double-spending problem and provides a secure electronic payment system based on cryptographic proof instead of trust. It also introduces the concept of a timestamp server and explains how transactions are verified and added to the blockchain. The article also discusses the incentive for nodes to support the network and the possibility of verifying payments without running a full network node. Additionally, it addresses the issue of privacy and the calculations related to the probability of an attacker catching up with the honest chain. The proposed system is designed to provide a secure, decentralized, and efficient electronic payment system.