Bitcoin Halving- What It Means And What Could Happen After

BABYLON, N.Y. - May 16, 2020 - PRLog -- With Bitcoin set to undergo Halving sometime this month the entire crypto community is on a Wait and Watch mode to find out exactly what will happen to the value of the King of Crypto. Read on to understand what is Bitcoin Halving and what to expect when it happens.

What is Bitcoin Halving?

A Halving, or Halvening, is a planned reduction in the rewards that cryptocurrency miners receive when a block is mined. This is a rule integrated into Bitcoin's code and Halving is set to occur exactly when 210,000 blocks are mined. Each block takes 10 minutes to mine. In 2009 miners would earn 50 BTC as reward when one block was mined. 4 years later, in 2012, Bitcoin halved for the first time and miners started receiving 25BTC. In 2016 BTC halved a third time to its current reward level at 12.5BTC per block mined. This month, May 2020, it will go through Halving again and the new mining reward will be 6.25BTC per block mined.

Less coins rewarded per block = Reduction in supply = Increase in demand = Increases value

Also, in the algorithm of Bitcoin is moving average to determine the proof-of-work difficulty. This means that if blocks are being added too fast the algorithm will increase the computational difficulty of the problems and make processors take longer to verify transactions and add them to a block. By this method one block will always take roughly 10 minutes to be completed and added to the blockchain.

Visit https://www.coindatalog.com/bitcoin-halving/ to read more and fully understand Bitcoin Halving!