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What is Bitcoin halving?

What is Bitcoin halving?



An event is about to take place on the Bitcoin network that only happens roughly every four years. The amount of new Bitcoin created and earned by miners with each new block of transactions is about to be cut in half. This is part of bitcoins predictable, transparent monetary policy, which can be verified in the source code available on the Bitcoin or github repository.

When these sorts of changes in bitcoins inflation rate take place, it's known as halving event. Bitcoin halving event occurs once every 4 years, the last halving 2016, and the next halving 2020.

The main reason behind Bitcoin halving is to keep inflation under control. There is only a limited amount 21 Million of Bitcoin will be mined. With every block of Bitcoin that is mined, the bitcoin that still remains becomes harder and harder to extract as a result of this limited supply. So halving is important to maintain the value for long years.

 

Find out more at cryptoversal.com.

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