The Bitcoin mining reward rate gets cut in half every four years, but this seemingly simple event carries with it deeply felt implications for the future of DeFi.
In the ever-evolving landscape of cryptocurrency and blockchain technology, few events hold as much significance as the Bitcoin (BTC) halving.
This landmark event occurs approximately every four years or at every 210,000 blocks, and serves as a fundamental mechanism that cuts in half the rewards paid to Bitcoin miners.
The first halving event happened in November 2012, when block rewards fell from 50 BTC per-block to 25 BTC. The upcoming halving is anticipated for some point in mid-April 2024, during which the rewards per-block will fall to 3.125 BTC.
