The Bitcoin halving, which is also known as “the halvening,” is the name for one of the most hotly anticipated events in Bitcoin’s history.– dropped by half, from 12.5 to 6.25. It’s a milestone that was easy to see coming because it happens every 210,000 blocks and had happened twice before 2020.
the various ways their chosen monetary policy could play out, pondering the circumstances under which it could lead to deflation or inflation .They elaborated very little on why they chose the particular formula they did: “Coins have to get initially distributed somehow, and a constant rate seems like the best formula,” the wrote.
“Unlike most national currencies we’re familiar with like dollars or euros, bitcoin was designed with a fixed supply and predictable inflation schedule. There will only ever be 21 million bitcoins. This predetermined number makes them scarce, and it’s this scarcity alongside their utility that largely influences their market value,” crypto wallet company Blockchain.com wrote in a
The game theory that secures Bitcoin requires that a) miners have an incentive to mine honest blocks b) miners have a cost ... to attempting dishonesty. The more money they can earn by way of block rewards, the more mining power goes to Bitcoin, and thus the more protected the network is.That is why the periodic decrease in rewards might eventually become an issue.
But for a long time, Bitcoin researchers have been considering the possibility that transaction fees won’t suffice. For one thing, it means transactions might need to grow more expensive over time to keep the network secure. “I don’t think this halving will make Bitcoin significantly less secure, but in eight to 12 years, we could find ourselves in hot water,” Hasu said.
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