Bitcoin's halving event likely this weekend. Here's what to expect
crypto community is preparing for the upcoming Bitcoin halving event, where, as the name suggests, Bitcoin rewards will be cut in half.
When it comes to the halving date, there are no fixed calendar dates, but it typically occurs approximately once every four years. Current estimates suggest that the next halving will take place sometime late Friday or early Saturday.
What is Bitcoin halving?
Bitcoin rewards to miners are halved every four years. Miners are those who solve the complex cryptographic puzzle to create a new blockchain in the network and are rewarded for this effort through Bitcoins.
The creator, Satoshi Nakamoto, had programmed it in such a way that after 210,000 blocks are mined, rewards to miners are reduced by half, which is approximately every four years.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»This is the fourth halving event. The first halving in 2012 reduced the reward price from USD50 to USD25. The latest one will reduce the reward to USD3.125, which at the current level is valued at close to USD200,000. Bitcoin price stood at USD63,000 as of
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