The word halving - from the English halving (split, halve) - means halving the reward for bitcoin mining. As of January 2022, miners receive 6.25 BTC per block. After another halving, this figure will drop to 3,125 bitcoins, and so on.

Halvings occur every 210 thousand mined blocks in the bitcoin network. The last one happened in early May 2020, and the next one will happen almost 4 years later - in May 2024. Exact date is unknown. The system can adjust this based on network indicators: the number of miners connected, the production rate of new BTC, and other details.

At the time of writing, approximately 1294 days separate the participants of the crypto community from the event.

Time until the next halving on the bitcoin network

Countdown to the next bitcoin halving. Data: bitcoinblockhalf.com
A reasonable question arises - why is it necessary to halve bitcoin. The answer is simple - in this way, the cryptocurrency network adjusts to the rate of arrival of new coins to the market. Also, halving allows you to maintain the value of bitcoin. The schema can be represented as:

• It is known that around 21 million bitcoins will be mined in total. Accordingly, sooner or later, BTC mining will end - all coin owners will be found. No new offer will come.
• Every year more and more people learn about cryptocurrency as an alternative to classical money. Against the background of the proliferation of digital assets, especially in difficult times of the traditional financial system, the number of users interested in purchasing BTC is growing.
• Approximately once every 4 years, the number of bitcoins issued by miners is reduced by 2 times. The demand is the same. As a result, buyers interested in purchasing BTC are willing to pay more for the cryptocurrency.

Thus halving helps in maintaining the value of the coin. For example, during a period of low rewards for mining the cryptocurrency in 2016, the bitcoin exchange rate was around $660 against the dollar. With 2020 halfway through, the BTC/USD trading pair has already been spotted near the $10,000 level.

reaction to the decrease in the rate of bitcoin

Chart of the behavior of the bitcoin rate with the marked halving in 2016 and 2020. Data: Business View
According to experts, the latest halving also opens up opportunities for the continued growth of bitcoin in the exciting field of activity - https://slotsmegacasino.com/en-us/crypto-casino/bitcoin/. Earlier, the editors of BeInCrypto collected information about 3 scenarios of the impact of reducing the reward for BTC mining in 2020.

You can learn more about what a half is: its features and interesting facts from our material.

who created bitcoin

The creator of the first cryptocurrency is a certain Satoshi Nakamoto, but this is where the information about him ends. Most likely, Satoshi Nakamoto is not a real name, but a pseudonym. It can hide men, women or a group of people.

Over the years of bitcoin's existence, members of the crypto community and the media have repeatedly attempted to establish the identity of Satoshi Nakamoto. Unfortunately, it is still unknown, in fact, the creator of the cryptocurrency. You can learn more about Satoshi Nakamoto from our material.

interesting fact! Despite the fact that the identity of Satoshi Nakamoto has not been established, as a sign of recognition, members of the crypto community named one millionth of a coin (0.00000001 BTC) after him. The need for a name appeared against the background of an active growth in the value of cryptocurrencies. Now, when transferring small amounts, bitcoin users are counted in satoshis.