Miners who support the most valuable and revered blockchain network in the cryptocurrency ecosystem will now earn half as much as they used to 6 25 btc per block just as satoshi nakamoto designed. The bitcoin halving one of the most anticipated events in the crypto world finally happened today at 19 23 utc by antpool. This event also cuts in half bitcoin s inflation.
A bitcoin halving event is when the reward for mining bitcoin transactions is cut in half. Bitcoin is halving on may 11 2020 at around 4 pm est. The current annual bitcoin inflation is at 3 68 but after the 2020 halving the inflation will be cut in half to approximately 1 80.
The bitcoin halving of 2020 will take place in may and pushes the block reward down from 6 25 bitcoins to 3 125 bitcoins per block. Many commentators expect bitcoin s price to be volatile over the next few months as the network adjusts to the change in block reward. The most recent bitcoin halving occurred on 11 may 2020 causing the block reward to fall from 12 5 to 6 25 bitcoins.
What happened last time bitcoin halving happened. This bitcoin halving will see the mining reward drop from 12 5 bitcoins per block to 6 25 bitcoins. Bitcoin halving occurs when the 630 000 th block is mined.
The next bitcoin halving is estimated to occur on 11 may 2020. The third bitcoin halving which is scheduled to. During july 2016 the second halving took place and the price of bitcoin was trading at around 700 and in 2017 the price skyrocketed to 20 000.
