This year it will take the bitcoin halving, it is a historic event, and many people are interested in this topic. On the ChangeNOW website, you can keep track of the days remaining for that moment.
They keep countdown where you can see the days, hours, minutes, and seconds that are missing. bitcoin halving 2020 will be in May. If you want to know what this means and how it will affect the price of Bitcoin, you are in the right place.
What is Bitcoin halving?
Bitcoin halving is a very easy concept to understand. It is the time when the miner’s reward per block is divided into two, and this happens every 210,000 blocks.
Every time Bitcoin halves, miners start getting 50% less BTC to verify transactions.
Mining a block can take 10 minutes on average. What can be estimated that a Bitcoin block can be halved every four years approximately. And this continues until 21 million Bitcoin is circulating again.
Bitcoin mining is done through rewards, which are distributed through a set of rules. The first of the known rules is that Bitcoin is limited to 21 million BTC, and the second rule is that for every 210,000 blocks added to the chain, the reward is reduced by 50%.
Bitcoin halving 2020 is set by supply and demand. If BTC coins are created very fast, or the amount of Bitcoin has no limit, there would be many Bitcoin circulating, and its value would be low.
For the halving 34 days, 21 hours and 11 minutes are missing; if you want to know more about this topic, you can visit the Change NOW website. You will also be able to make cryptocurrency exchanges without registration and without creating an account.
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