What Is Bitcoin Halving?

Bitcoin:                                                                                                                                                                            Bitcoin is a type of digital money.                                                                                                        It`s like the money in your wallet, but on your phone or computer. Nobody owns or controls it. It`s like sending a secret code from one person to another .All transactions are publicly visible. There`s a limited amount of it, like a rare digital coin.                                                                                                                                                                                                                                                                         What Is Bitcoin Halving?                                                                                                                                                                         Every four years, the block reward for bitcoin miners is cut in half in an event called a Bitcoin Halving, and this will continue until all 21 million Bitcoin is issued. But how does the halving work and what exactly does it mean for Bitcoin? And does this mean Bitcoin will cease to exist after all coins are mined, or are there ways to keep Bitcoin up running for many more years to come? So what exactly is Bitcoin Halving? Bitcoin halving is a process that regulates the amount of Bitcoin rewards issued to miners for helping secure the network. Specifically, it does this by cutting the reward in half roughly every 4 years. But first, let's back up a bit. So, as mentioned, the total supply of Bitcoin is capped at 21 million coins. After 21 million coins are mined, no more Bitcoin will be created Since bitcoin is not run by any one single entity, it requires miners around the world to participate in validating transactions and securing the network. In return, miners are rewarded with Bitcoin for every block they add to the blockchain. At the time Bitcoin was launched, the reward per block was 50 BTC. The code is set to that miners' reward are cut in half for every 210,000 blocks added to the blockchain. As each block takes roughly 10 minutes to mine, this means it takes roughly four years to add that many blocks to the blockchain, with the first Bitcoin halving taking place in 2012, halving the reward to 25 BTC, the second in 2016, halving the reward to 12.5 BTC, and the latest, halving event taking place in May 2020, halving the rewards to 6.25 BTC. The next one is taken in 20th of April,2024. What does the halving mean for Bitcoin? Based on the basic principles of supply and demand, the Bitcoin halving tends to result in increased bitcoin prices if demand increases or remains constant. This is because the halving reduces the amount of new bitcoin entering the market. Bitcoin's limited supply of 21 million makes it a scarce and thus valuable asset if the demand for it continues to increase. Estimates predict that the last halving will happen in 2140, after which miners will get zero block rewards for mining, but we still be able to collect transaction fees for keeping the blockchain running. And ideally, the transaction fees will be enough incentive for miners to keep  securing the network.