Bitcoin Halving: Understanding the Process and Its Impact on the Cryptocurrency
• Bitcoin halving is a pivotal event where the reward for mining new bitcoins is cut in half.
• It occurs every 210,000 blocks mined, roughly every four years, and reduces the rate of new coin creation.
• The next halving is expected in early-to-mid 2024, bringing the block reward down from 6.25 BTC to 3.125 BTC.
• Halvings have a significant impact on miners, potentially leading to consolidation in the mining ecosystem.
• The final halving is projected to occur around 2140, after which miners will rely on transaction fees as incentives.
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