Bitcoin halving history
Bitcoin halving history
When Bitcoin was released in 2009, the mining reward was 50 BTC per block. Since then, it has experienced three halvings. The first halving occurred in November 2012, when the mining reward was reduced from 50 BTC to 25 BTC. The second halving occurred in July 2016, with the mining reward reduced to 12.5 BTC. The third cut occurred in May 2020, when the mining reward was again halved to 6.25 BTC per block. Halving is critical to controlling Bitcoin's scarcity and controlling inflation, ensuring its total supply never exceeds 21 million, in line with its deflationary principles
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What is Bitcoin halving?
A Bitcoin halving is a pre-planned event in which the reward for mining and validating new blocks will be reduced by 50%, with miners receiving only half of the amount of BTC mined. The halving is scheduled to occur every 210,000 blocks, or approximately every four years, and will continue until the total supply of BTC reaches 21 million.
