Next Bitcoin Halving: What You Need to Know?

Bitcoin is a decentralized cryptocurrency that operates on a peer-to-peer network of computers. Bitcoin transactions are verified and recorded in a public ledger called the blockchain, which is maintained by a group of participants called miners. Miners use specialized hardware and software to solve complex mathematical problems and earn new bitcoins as a reward.

However, the amount of new bitcoins that miners can generate is not constant. It is determined by a process called halving, which reduces the block reward by 50% every 210,000 blocks, or approximately every four years. The halving is designed to ensure that the total supply of bitcoins will never exceed 21 million, which is the maximum number of bitcoins that can ever exist.

The next bitcoin halving is expected to occur in April or May 2024, when the block reward will drop from 6.25 bitcoins to 3.125 bitcoins per block. This will be the fourth halving in bitcoin’s history, following the previous ones in 2012, 2016, and 2020.

In this article, we will explain what the bitcoin halving is, why it matters, and how it affects the bitcoin network and the cryptocurrency market.

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