Gomining

&#x1f4c8; In addition to the long-awaited increase in the value of bitcoin, the second most discussed topic regarding the globe&#39;s first cryptocurrency is halving.&#x1f4d1; In order to properly prepare for this process and understand all the subtleties it entails, we are launching a pool of posts about halving.&#x1f91d; We suggest starting with the basics, such as what it is and what it is for.&#x1fa99; Halving is a process invented by Satoshi Nakamoto to ensure the consistent flow of bitcoins to the market.The essence of halving is that every 210,000 mined blocks (that is, about once every four years), the rate for generating new units of cryptocurrency is halved.⛏️ Mining a block is a complex and labor-intensive computational process requiring the use of high-performance equipment and high energy consumption. This is what is known as mining.&#x1f4c9; If initially the reward for a mined block was 50 BTC, then after 3 halvings (in 2012, 2016, and 2020) it is already equal to 6.25 BTC. After another halving in April of this year the block reward will drop to 3.125 BTC.Anyone interested in doing so can ascertain that the mechanism mentioned above allows for no more than 21 million bitcoins to be issued. That&#39;s exactly what Satoshi Nakamoto intended. And even a sharp increase or decrease in BTC network difficulty will not significantly affect this process.The system is designed so that the division takes as long as possible. As a result, there will come a time when miners will receive the minimum possible reward of 1 Satoshi for each block (1 BTC contains 100 million Satoshi).If these figures are translated into years, we get 33 seasons, or 132 years. That is to say, the last Satoshi will only be mined in 2140. At the same time, over 19.5 million BTC have already been mined to date.&#x1f60e; It is precisely this mathematical model that ensures that, despite the volatility of bitcoin, its price will grow in any case.

HALVING

GoMining

Інші статті, опубліковані 24 січ. 2024 р.

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