Bitcoin halving is the event of halving the amount of reward given to bitcoin miners who successfully create new blocks every 210,000 blocks.
During the halving, the reward miners get for each new block successfully created will be reduced by 50%. This event has been algorithmically programmed to occur approximately once every 4 years until the total bitcoin supply reaches a maximum limit of 21 million bitcoins.
The aim of holding this halving is to keep bitcoin inflation under control so that the supply of bitcoin does not flood the crypto market. Usually, the price of bitcoin will increase sharply before and after the halving due to a decrease in the new supply of this digital currency.
Examples of “bitcoin halving” in use in a sentence
“It is estimated that the next bitcoin halving will occur in 2024, with a decrease in rewards to 3,125 BTC per block.”
“After the 2020 halving, many small-scale miners went out of business because rewards became smaller.”
“Analysts predict a significant rise in bitcoin prices as the next halving approaches.”
