Bitcoin is being cut in half!

The halving of bitcoins is the most significant event in cryptocurrency and occurs approximately every 4 years or after every 210,000 blocks. It involves halving the reward miners receive for confirming transactions and adding them to the blockchain.

The first halving took place in 2012, as a result of which bounty dropped from 50 to 25 bitcoins per block. The second discount took place in 2016, which reduced the reward to 12.5 bitcoins per block. The last halving took place in May 2020, as a result of which the bounty dropped to 6.25 bitcoins per block, with the next fall scheduled for April 20, 2024.

Approximately every four years, the reduction in rewards for a mined block of bitcoins reduces the fee that miners receive by half. Thus, it is possible to reduce the supply of Bitcoin, ultimately making it scarce and potentially increasing its value. It also supports miners' economic incentives, relies more on transaction fees, and ensures the security and integrity of the network.

Halving Bitcoin causes changes in market sentiment and potentially leads to increased interest in other cryptocurrencies due to increased scarcity of Bitcoin. Increased overload of the Bitcoin network could also affect other cryptocurrencies that use the same infrastructure.

Issues raised by the Bitcoin halving include a decrease in block rewards, increased competition among miners, and the need for careful cost management. This event also causes fluctuations in the market and problems in adapting to technological advancements, potentially affecting network congestion and the stability of the hash rate.

At the moment, there are 2-3 days left until the halving and we can expect a nice rise in the market.

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