Bitcoin 2020 Halving

The bitcoin halving one of the most anticipated events in the crypto world finally happened today at 19 23 utc by antpool.

Bitcoin 2020 halving. Bitcoin halving bitcoin halving bitcoin halving 2020 halving explained disclosure the leader in blockchain news coindesk is a media outlet that strives for the highest journalistic standards and. In the 2024 halving the reward will drop from 6 25 btc per block to 3 125 btc. What is the significance of the bitcoin block halving. Miners who support the most valuable and revered blockchain network in the cryptocurrency ecosystem will now earn half as much as they used to 6 25 btc per block just as satoshi nakamoto designed.

It is because of the halving that there is a capped supply of 21 million bitcoin that will ever exist. Why is the bitcoin halving 2020 such an important event. The most recent bitcoin halving occurred on 11 may 2020 causing the block reward to fall from 12 5 to 6 25 bitcoins. Bitcoin is a deflationary currency.

This event also cuts in half bitcoin s inflation rate. The bitcoin blockchain has experienced its third block reward halving on may 11 2020 at approximately 3 21 p m est even though quite a few countdown clocks estimated that the halving would. A bitcoin halving event is when the reward for mining bitcoin transactions is cut in half. It will see the block reward fall from 12 5 to 6 25 bitcoins.

The next bitcoin halving is expected to occur in the week commencing 18 may 2020 when the number of blocks hits 630 000. The halving sometimes referred to as the halvening is the predetermined moment when bitcoin s block subsidy gets cut in half. The third halving event occurred on the 11th of may 2020 utc at block height 630 000 past halving price performance it is always a debate on what bitcoin will do in terms of pricing for a halving event. Therefore fewer bitcoins will be made over time in the future the supply of new coins may even stop.

In the most recent may 11 2020 halving the reward dropped from 12 5 to 6 25 btc per block. Bitcoin halved on may 11 2020 around 3 pm est.