What is Bitcoin Halving?
To understand bitcoin halving, we will have to start with Bitcoin mining. Bitcoin Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. When a block is discovered, the discoverer, aka, the miner may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently, this bounty is 25 bitcoins; this value will halve every 210,000 blocks. It takes about 10 minutes to produce a block, thus, around every 4 years and a half, the reward will be halved, and May of 2020 will be the third time the halving happens. There will be a total of 32 halvings, all 21 million Bitcoins will be mined around the year 2140, and the halving will end.
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