The Halving (sometimes referred to as “the Halvening”) is the predetermined moment when Bitcoin’s block subsidy gets cut in half. The halving of Bitcoin’s block subsidy occurs every 210,000 blocks (approximately every four years) and is a key feature of Bitcoin. It is because of the Halving that there is a capped supply of 21 million bitcoin that will ever exist.
The Halving will continue to occur every 210,000 blocks until the block subsidy reaches 1 satoshi — the smallest unit of bitcoin at 0.00000001 BTC. As Bitcoin’s codebase parameters currently state, at that point the next block subsidy will simply drop to zero, and miners will only collect transaction fees.
Details on this upcoming Halving: At block 630,000, the Bitcoin block reward will be cut from 12.5 bitcoin per block to 6.25 bitcoin per block.
Bitcoin Magazine presents non-stop coverage of Bitcoin’s third Halving with hours of commentary and analysis from Bitcoin 2020 speakers and some of our closest friends. Ring in the new cycle the right way: with us!
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