|
|
Reported by Hong Kong Qidian Finance on January 20. Bitcoin halving is a pre-programmed event that occurs approximately every four years or every 210,000 blocks mined.
As of 2023, Bitcoin miners or network participants successfully validating transactions will be rewarded with 6.25 new bitcoins (BTC) for each mined block. The next halving is expected to take place on April 22, 2024, at 21:13:24 UTC, at which point the block reward will reduce to 3.125 BTC.
Halving the block reward is a key feature of Bitcoin's monetary policy, where each halving event reduces the number of new bitcoins produced per block, resulting in a decreased supply. Bitcoin was created as a deflationary currency similar to gold. As it becomes scarcer and demand increases, the price may rise based on supply and demand dynamics.
Bitcoin halving will ultimately limit the total supply of Bitcoin to 21 million, and each Bitcoin is subdivided into smaller units called satoshis, with 100,000,000 satoshis in one Bitcoin.
This fixed supply is one of the fundamental characteristics that sets Bitcoin apart from traditional fiat currencies. In the traditional fiat currency system, central banks have the authority to adjust the money supply, which can lead to inflation or deflation, depending on the central bank's policies. |
|
Post time 6-2-2024 07:55:00