{"id":701,"date":"2024-04-12T09:24:26","date_gmt":"2024-04-12T09:24:26","guid":{"rendered":"https:\/\/mapprofits.com\/?p=701"},"modified":"2024-04-14T20:10:44","modified_gmt":"2024-04-14T20:10:44","slug":"bitcoin-halving-explained-heres-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/mapprofits.com\/index.php\/2024\/04\/12\/bitcoin-halving-explained-heres-what-you-need-to-know\/","title":{"rendered":"Bitcoin halving explained: Here\u2019s what you need to know"},"content":{"rendered":"
\"Bitcoin<\/figure>\n

As April rolls on, we\u2019re now only a few days away from the next Bitcoin halving. The latest slashing of Bitcoin mining rewards is currently expected to take place around April 20<\/a>, though the timeframe is subject to change – we\u2019ll see why that is in a bit. By now the Web3 industry has become quite familiar with these events, but newcomers and people outside the sector might be wondering why it\u2019s such a big deal. Well, let\u2019s investigate!<\/p>\n

What is Bitcoin halving?<\/h2>\n

For such a significant and impactful event, it\u2019s a remarkably straightforward affair pertaining to the periodic reduction of Bitcoin mining rewards. A bit of context is in order.<\/p>\n

New BTC is created as rewards to miners for adding new blocks to the Bitcoin ledger and the total amount of BTC that can ever be in existence is capped at 21 million. But then we have the Bitcoin halving mechanism, which periodically slashes the rewards for block creation by 50%. Combined with the BTC supply cap, the halving mechanism determines the nature of Bitcoin as a deflationary cryptocurrency.<\/p>\n

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Stay up-to-date with everything blockchain-related!<\/div>\n

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