Halving is a key bitcoin (BTC) event. Want to know more?
The creat of new bitcoins is predictable and transparent for all involved. In total, only 21 million bitcoins will ever be be issued, or 20 999 999,9769 BTC to be exact.
Approximately every 10 minutes (the average time for the mining of a block), the “miners” are assigned new bitcoins which are issued by the Bitcoin network as a reward for their work in maintaining and keeping the network safe.
Bitcoin rewards are divided by two every 210 000 blocks of transactions (approximately every four years given the time it takes to verify a block transaction, or “mine” a block). That is called halving! It thus creates a division by two of the reward to miners in Bitcoins.
During the first four years (from 2009 to 2012), the reward given to miners was 50 BTC, then the value decreased to 25 BTC on 28 November 2012, and to 12,5 BTC on 9 July 2016. On the evening of 11 May 2020, the value will decrease to 6,25 BTC. On Monday, 11 May, the cryptocurrency star thus experienced its third halving.