235 days left until bitcoin halving – Binance started counting

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What is halving

There are 235 days left until the bitcoin halving, and the Binance cryptocurrency exchange even started counting down to this event.

 

So what is halving, and why is it so important for a cryptocurrency ecosystem?

In fact, halving is a procedure for reducing the bitcoin generation rate (or other cryptocurrencies). As a result of this process, the miner’s reward for each newly mined block is halved exactly.

Halving is very important for Bitcoin because It is this event that is responsible for the stability of the creation of a new cryptocurrency and further regulation of the emission process. It turns out a kind of controlled level of monetary inflation, in which the main difference between cryptocurrency and Fiat, where assets are not subject to emission restrictions, lies.

It is not a secret for anyone that in total there will be a total of 21 million BTC in nature – such an emission algorithm was originally incorporated into the protocol of the main world cryptocurrency, and no one will be able to change this condition.

To date, only two halvings have taken place – on November 28, 2012, and July 9, 2016, on these dates, the rate of the main world cryptocurrency was $ 12.31 and $ 650.63, respectively.

In total, 64 halvings is planned, after which the new Bitcoins will never be possible – their extraction will be impossible, the maximum emission threshold will be reached.

From that moment until the end of centuries, only these 21 million coins will exist in the world.

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