7,850,000 bitcoins have now passed through the mining process, leaving just 3.15 million more.
Bitcoin Halving News
Bitcoin halving is a process of dividing the number of generated rewards per block in order to maintain the total supply of Bitcoin, which will not exceed 21 million. Block rewards are the main engine of Bitcoin mining and, therefore, the main power behind the operation of the network. Bitcoin halving happens every 210,000 blocks and reduces the reward for 50 percent every time in a geometrical progression. The initial block reward in 2009 was 50 Bitcoins, the current Bitcoin reward is 12.5 coins and the process is expected to end in 2024 with all Bitcoins being issued. The next Bitcoin halving is expected to happen in May 2020 and will decrease the reward to 6.25 coins. Bitcoin halving is a crucial part of Bitcoin and most other cryptocurrencies, as it is the main algorithm of emission control and a part of what makes Bitcoin successfully maintained without any authority.
- News
- News
by Helen Partz
Block reward halving “shock” at Bitcoin and Litecoin could be mitigated by merged mining, according to Binance Research.
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by Adam Wyatt
As the Bitcoin community celebrates the 2nd successful quadrennial block reward halving, market participants seems less enthusiastic about the event.
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by Iyke Aru
One major attribute of the Blockchain is the safety of data. Encryption is the most effective way to achieve data security. How crucial is this phenomenon for t...
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