How does Halving work?
12 years ago, <t-20/><t-21/>#Bitcoin changed forever with his first half.
Block rewards have been reduced from 50 BTC to 25 BTC. $BTC
Halving is a process in Bitcoin's protocol that reduces the block reward for miners by half every 210,000 blocks, which is approximately every four years.
Here's how it works:
1. Block reward: Miners compete to solve complex mathematical problems to validate transactions and create new blocks. As a reward for their work, they receive newly minted Bitcoins.
