The third Bitcoin Halving is over and that is a moment that many have been looking forward to. It can have many consequences. Due to the Bitcoin Halving, it is not the case that the price of the Bitcoin suddenly goes down, or that you suddenly only have half of your Bitcoins left. The halving is about the compensation that miners receive.
The Bitcoin network is maintained by miners. Just to be clear: these are computers that calculate hashes and this always happens very quickly, because as a miner you always want to make the correct calculation first. Now it has been thought that the reward for the miners will be halved, after every 210,000 blocks that have been made. This happens every four years and is therefore also referred to as the Bitcoin Halving. At the beginning, miners were rewarded with 50 Bitcoins. This has fallen further after each Bitcoin Halving and now it was that time again. Miners can now only count on 6.25 Bitcoins as a reward. The new scheme came into effect on May 2020.
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