What is Bitcoin Halving?

Bitcoin halving is the event when after every  4 Years or 210k blocks mined. The reward for bitcoin miners for complete processing the transactions is cut to the half. That means new bitcoins released into to circulations are will be half in quantity simply.

According to the rules, this system will keep running till 2140, like in 2009 the total reward for each chain mined was 50 Bitcoins, and simply after first halving event , it becomes 25 and so on.

Image result for bitcoin halving

Here is the list of complete halving events occurred till this date:

EventDateBlock numberBlock rewardTotal new bitcoins between events
Bitcoin launches3 January 20090 (genesis block)50 new BTC10,500,000 BTC
First halving28 November 2012210,00025 new BTC5,250,000 BTC
Second halving9 July 2016420,00012.5 new BTC2,625,000 BTC
Third halvingExpected week commencing 18 May 2020630,0006.25 new BTC1,312,500 BTC
Fourth halvingExpected 2024740,0003.125 new BTC656,250 BTC
Fifth halvingExpected 2028850,0001.5625 new BTC328,125 BTC

Leave a Comment

Your email address will not be published. Required fields are marked *