Exploring The Backstory of Bitcoin Halving
The Bitcoin Halving is a process that occurs every 210,000 blocks on the blockchain. It’s part of a larger problem with cryptocurrencies: the total amount of Bitcoins will be capped at 21 million. So, when miners solve a block, they receive 12.5 bitcoins and this amount halves every 210,000 blocks until there are only 6.25 bitcoins left per block. What is the Bitcoin Halving? The Bitcoin Halving is when the number of bitcoins awarded to miners is cut in half. It happens every 210,000 blocks, or roughly every four years....