What is Bitcoin Halving?

Today something important happened in Bitcoin, "the halving": the rewards for miners have dropped by half.

For the last 4 years and every 10 minutes miners were finding a prize of 12.5 BTC, but as of today and for the next 4 years they will only get 6.75 BTC every 10 minutes.

This reward that appears every ten minutes was, taking into account the 8,000 that a Bitcoin costs, about 100,000 euros. The miner who best solves a cryptographic problem gets the reward, i.e. every 10 minutes there is a race in the Bitcoin Blockchain Ecosystem to see who gets the best hash for a given file.

Halving is just a perfectly predictable consequence of the algorithm that governs Bitcoin and that follows the "gold standard" i.e. less and less bitcoins are found... and that's without taking into account the amount of them that are lost.


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