Blockchain is drawing attention to bitcoin halving – an integral part of the bitcoin code which occurs once for every 210,000 blocks mined – roughly every 4 years, and affects how much of a reward miners receive for validating new blocks on the blockchain. Miners are recompensed in bitcoin for their work in securing the blockchain against fraud and continuing the system. The reward for mining first started out as 50 BTC per block until the first halving event occurred in November 2012, which cut the reward to 25 BTC. The second halving is due to happen on July 9th, 2016, and will reduce the reward to 12.5 BTC. The final halving will take place in the year 2140.
http://allcoinsnews.com/2016/07/07/blockchain-counts-down-to-bitcoin-halving/
Topic: [2016-07-05]Blockchain Counts Down to Bitcoin Halving (Read 248 times)
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