BTC halving refers to the process by which the reward for mining new blocks on the Bitcoin blockchain is halved. This event occurs approximately every four years and is programmed into the Bitcoin protocol to control the supply of new bitcoins. It's a significant event because it reduces the rate at which new bitcoins are created, thus impacting the inflation rate of the cryptocurrency.
The BTC halving has occurred several times since Bitcoin's inception in 2009. The first halving took place in November 2012, reducing the block reward from 50 bitcoins to 25. The second halving occurred in July 2016, decreasing the reward from 25 bitcoins to 12.5. The most recent halving happened in May 2020, reducing the reward from 12.5 bitcoins to 6.25. Each halving event is programmed to occur approximately every four years, with the aim of gradually reducing the issuance of new bitcoins until the maximum supply of 21 million coins is reached. Recent BTC halving is expected on 20 April, 2024. These halving events are closely monitored by the cryptocurrency community due to their potential impact on supply, demand, and ultimately, the price of Bitcoin. .
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