The Turkish equivalent of Halving, which was integrated into the protocol of the cryptocurrency by Satoshi Nakamoto, the creator of Bitcoin, is halving. While this halving process takes place every 4 years, the next Halving process is expected to occur in 2024.

Halving; To put it simply, it is the process of rearranging the production rewards per block by halving every 210 thousand blocks. During the transaction, miners' Bitcoin rewards are reduced by 50 percent. Apart from this, if the demand remains strong during this period, there may be serious increases in the value of the cryptocurrency.

The first halving process in Bitcoin took place in November 2012. The value of the cryptocurrency at that time was 11 dollars and the original reward amount was 50 BTC. After the halving process, the reward per block was 25 BTC. The second halving occurred in July 2016, after the Bitcoin network reached the 420 thousand milestone. After the transaction, the reward given by the cryptocurrency, which fluctuated between 500 and 1000 dollars at the beginning of the block, decreased to 12.5 BTC. The third halving occurred recently in May 2020. The reward per block of the cryptocurrency, which was traded at 9 thousand dollars during the halving process, decreased to 6.25 BTC after the transaction. At the end of the year, it increased to 30 thousand dollars, making its investors happy.

Why is Bitcoin Halving important?

Considering the examples experienced in the past, the high supply during the Halving process allows significant increases in the value of the cryptocurrency. The next halving is expected to occur in mid-2024. We can explain why the halving process is important in Bitcoin as it makes crypto money more popular by increasing efficiency and demand. For this reason, the reward given per block in mining is halved every 4 years and the supply-demand balance is rearranged. Finally, it is thought that the 21 million Bitcoin limit set by Satoshi will be reached in 2140.