Things to Know About the Next Bitcoin Halving 2024

Miami Crypto28 Mar, 2024Business

Bitcoin Halving is a major event in the crypto ecosystem where mining rewards are reduced to half after every four years or once 210,000 blocks are mined. This is calculated with the knowledge that the average block time is about ten minutes. In other words, it means that the reward miners receive for adding each new block and verifying transactions is cut down to 50%. This is done as cryptocurrencies can only be of worth if it has a limited supply. Bitcoin has a limited supply of 21 million.