How is our timer calculated. As documented in the code the block subsidy will be halved every 210 000 blocks. The code can be found on the bitcoin core github and below is a snippet of the code that makes the bitcoin halving possible.
The bitcoin halving is an essential function of the bitcoin protocol. Because of the halving in 2016 bitcoin saw a. Bitcoin remains the most important cryptocurrency so most people are looking forward to the expected bitcoin halving which is expected in may 2020.
When the first halving occurs it will also mean the removal of the founders reward. Zcash halving occurs every 4 years similar to bitcoin and it s current block reward is 12 5 zec. However we decided to put both countdowns on this page.
The average block time is used by most people to estimate the halving. This countdown gives us a good estimate of the approximate arrival of the halving. The turquoise bitcoin halving countdown is based on the average block time of 10 minutes.
After every 210 000 blocks are mined approximately every 4 years the block reward halves and will keep on halving until the block reward per block becomes 0 approximately by year 2140. When bitcoin first started 50 bitcoins per block were given as a reward to miners. Dusting off the cmc archives we can see that the price of bitcoin stood stood at 1 031 95 on that date in 2013.
But just look at where it was a year later. On this date a single btc would set you back about 12. 28 2012 slashing rewards to just 25 btc.
The first ever bitcoin halving took place on nov.
