Summary
TLDR: The Bitcoin halving occurred, reducing miner rewards to 3.125 BTC per block. This event is part of Bitcoin’s goal of digital scarcity, with a total cap of 21 million Bitcoin. The halving event occurs approximately every four years, with the last one expected in the mid-22nd century. The event doubles the cost for miners to produce Bitcoin, but ensures the network remains secure and free of fraudulent transactions.
Key Points
1. The Bitcoin halving occurred after the 840,000th block was created, reducing the reward for successful miners to 3.125 BTC per block.
2. This halving represents the fourth event in Bitcoin’s history and is a programmed reduction in newly issued BTC to maintain digital scarcity.
3. The total supply of Bitcoin is capped at 21 million, with over 19.6 million currently in circulation, and halvings are expected to occur roughly every four years until the mid-22nd century.