Bitcoin is the leading cryptocurrency in recent times. With its popularity, it has entered into various sectors in order to make transactions fast and easy.
It is powered with Blockchain technology, with its advanced security system it makes its transactional data safe and secure.
It makes the block reward into half in order to control inflation.
Stages of the Halving Procedure
The halving procedure started in the year 2012 is continued in a systematic way once in four years till 21 million bitcoins are mined ie., it will end in the year 2140 as there are only 32 halvings in total.
After the very first halving in the year 2012, the block reward of 50 bitcoins per transaction reduced to 25 Bitcoins per transaction.
The second halving took place in the year 2016, the block reward of 25 bitcoins per transaction reduced to 12.5 Bitcoins per transaction.
The third halving took place in the year 2020, the block reward of 12.5 bitcoins per transaction reduced to 6.25 Bitcoins per transaction.
The next fourth halving will be conducted in the year 2024 with the block reward of 6.25 per transaction will be reduced to 3.125 Bitcoins per block.
For more detailed information check out our infographic on Bitcoin Halving developed by winbtc.net.
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