Bitcoin halving, also known as “the halving” or “halving,” is a planned event that occurs approximately every four years on the Bitcoin network. It involves a reduction in the amount of new bitcoins that are released into circulation, and is designed to control the supply of bitcoins and maintain the value of the cryptocurrency.
During a bitcoin halving event, the rate at which new bitcoins are released into circulation is reduced by 50%. This means that the number of new bitcoins that are created and added to the total supply is halved. For example, before the first bitcoin halving in 2012, the block reward was 50 bitcoins per block. After the halving, the block reward was reduced to 25 bitcoins per block.
The bitcoin halving is a key part of the Bitcoin network’s design and is programmed into the protocol. It is designed to ensure that the total supply of bitcoins will eventually approach 21 million, at which point the block reward will be reduced to zero and no new bitcoins will be released into circulation. This will limit the total supply of bitcoins and is intended to help maintain the value of the cryptocurrency over time.
The next bitcoin halving is expected to occur in May 2024.
Here is a chart showing the expected schedule of bitcoin halving events until the year 2100:
| Halving Event | Block Height | Block Reward | Year |
|---|---|---|---|
| First Halving | 210,000 | 50 BTC | 2012 |
| Second Halving | 420,000 | 25 BTC | 2016 |
| Third Halving | 630,000 | 12.5 BTC | 2020 |
| Fourth Halving | 840,000 | 6.25 BTC | 2024 |
| Fifth Halving | 1,050,000 | 3.125 BTC | 2028 |
| Sixth Halving | 1,260,000 | 1.5625 BTC | 2032 |
| Seventh Halving | 1,470,000 | 0.78125 BTC | 2036 |
| Eighth Halving | 1,680,000 | 0.390625 BTC | 2040 |
| Ninth Halving | 1,890,000 | 0.1953125 BTC | 2044 |
| Tenth Halving | 2,100,000 | 0.09765625 BTC | 2048 |
| Eleventh Halving | 2,310,000 | 0.048828125 BTC | 2052 |
| Twelfth Halving | 2,520,000 | 0.0244140625 BTC | 2056 |
| Thirteenth Halving | 2,730,000 | 0.01220703125 BTC | 2060 |
| Fourteenth Halving | 2,940,000 | 0.006103515625 BTC | 2064 |
| Fifteenth Halving | 3,150,000 | 0.0030517578125 BTC | 2068 |
| Sixteenth Halving | 3,360,000 | 0.00152587890625 BTC | 2072 |
| Seventeenth Halving | 3,570,000 | 0.000762939453125 BTC | 2076 |
| Eighteenth Halving | 3,780,000 | 0.0003814697265625 BTC | 2080 |
| Nineteenth Halving | 3,990,000 | 0.00019073486328125 BTC | 2084 |
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