A Bitcoin halving event occurs when the reward for mining Bitcoin transactions is cut in half. Miners receive a share of BTC each time they validate a block. The purpose of halving is to decrease the number of new coins entering the network along with a set total Bitcoin supply.

As of 2023, network participants who validate transactions are awarded 6.25 bitcoins (BTC) for each block successfully mined. The next halving is expected to occur in April or May 2024, when the block reward will fall to 3.125. Over time, the impact of each halving will diminish as the block reward approaches zero.

For this reason, this mechanism has always generated much enthusiasm in the crypto world. Halving is an event that makes Bitcoin an anti-inflationary cryptocurrency, and for this reason, it typically anticipates a significant price increase.

The Bitcoin halving is scheduled in block height, not date and the next one is expected to occur in early 2024 when block number 840,000 is mined. Why is this event so eagerly anticipated? Cosa succederà dopo? In questo articolo, esamineremo tutto ciò che devi assolutamente sapere sul prossimo Bitcoin halving.

Bitcoin mining is the process by which new bitcoins are created and transactions are verified on its blockchain. The term “mining” derives from the fact that this process requires significant computational effort, similar to what a miner must do to extract gold or other minerals from the ground.

Transactions on the Bitcoin network are confirmed through a distributed consensus process known as proof-of-work (PoW). This process requires miners to solve a very complicated cryptographic hash algorithm. When a miner successfully solves the algorithm, they are rewarded with a certain amount of bitcoin, and the transaction is added to the Bitcoin blockchain.

But that’s not all; the miner who validates a block also collects all the fees paid by the senders of the transactions included in the block.

Bitcoin miners play a critical role in this process, as they verify transactions and include them in a block of transactions that is added to the Bitcoin blockchain. Precisely because this activity is so important, the Bitcoin protocol provides for a well-rewarded payment for this work.

Currently, for each new block, 6.25 BTC are put up for grabs, which are awarded to the miner who manages to confirm the block by extracting the correct hash.

It is essential to know, however, that the maximum number of BTC in circulation can never exceed 21 million. Once that threshold is reached, production, i.e., mining, will stop forever.

This is where halving comes into play: this mechanism slows production, preventing the immediate reach of 21 million quotas and making the currency less exposed to depreciation risks. How to become a miner in 2023.

The first Bitcoin halving occurred in November 2012, when the block reward was reduced from 50 to 25 Bitcoin.

The second halving occurred in July 2016, when the block reward was reduced from 25 to 12.5 Bitcoin. In May 2020, the third halving occurred, reducing the block reward from 12.5 to 6.25 Bitcoin. On the occasion of the next halving in 2024, these will become 3.125 BTC.

The next Bitcoin halving is expected to occur between March and May 2024, at block number 210,000 compared to the previous halving, which means at block number 840,000. Probably the halving will first be noticed by miners and only later by investors and crypto-enthusiasts.

To calculate when the next Bitcoin halving will occur, it is necessary to multiply the number of blocks that need to be validated between one halving and the next, which is 210,000, by the time it takes to do so about ten minutes. Then you need to divide the number you get by sixty minutes. By doing this calculation, you will discover that about 35,000 hours pass between one halving and the next, or roughly 1458 days, just over four years. To know the exact date of the next halving in 2024, however, you would need to observe the number of blocks validated day by day.

As mentioned earlier, these “halvings” will not be infinite, they will stop when the maximum supply of Bitcoin is issued, which amounts to 21 million BTC, presumably around the year 2140. This means the cryptocurrency will no longer be subject to new halvings after this limit.

Many investors wonder what will happen to the price of bitcoin during the next halving.

When bitcoin emissions are cut in half, it becomes increasingly scarce and indirectly impacts its price. In the months following the 2012 halving, its price increased by almost 12,000%, while after 2020 halving it increased by about 300%. Of course, halving is not the only cause of the growth recorded in the past, but we can say that the market has always responded positively to this event, at least so far.

Halving also affects the inflation rate of Bitcoin. In 2011, for example, BTC was subject to an annual inflation rate of 50%. In 2012, it became 12%, while today it is around 1.77%. At this point, we wonder what it will be after the next halving.

A year after the anticipated operation, we don’t know exactly what the results will be, but we can certainly imagine that with the growing excitement caused by the phenomenon, the next halving will stimulate growth in the crypto market. We’ll see!

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