Bitcoin Halving Definition:
i.After every 210,000 blocks mined, or roughly every four years, the block reward given to Bitcoin miners for processing transactions is cut in half
ii.Roughly every four years, the total number of bitcoin that miners can potentially win is halved.
Explanation:A halving event is coded into a blockchain protocol from the launch of its genesis block, by Satoshi nakamoto to provided that the network is proof-of-work-based.
The initial Bitcoin block reward for miners was 50 BTC. Over time, this reward has been continuously reduced due to a special “halving” provision in the Bitcoin code. This provision contains that the Bitcoin block reward should be permanently cut in half roughly every 210,000 blocks (or approximately every 4 years).
In 2020 after halving the reward for miner to mined a block successfully is reduced to 6.25 bitcoins (BTC) and this will reduced to half after every halving till 2140 when 21 million Bitcoin mining has to be done.
Date of occure:Bitcoin halving was firstly occure in the year of 2012 after 3 yr of Bitcoin launching and this will occure again and again after every 4 year till 21 million Bitcoin has mined which is the total supply of Bitcoin (BTC)
Benefits of halving:Bitcoin halving is the reason which will control rate of inflation and as a result we got bullish in Bitcoin price , through Bitcoin halving the available supply of Bitcoin will reduced as a result the demand will be increase obviously,. because we know supply is inversely proportional to demand when supply decreased with time to time then the demand will increase with time to time so we will got huge jump in his price and that's the main motive of halving which was planned by legendary Satoshi nakamoto the inventor of Bitcoin
The reward is halved → half the inflation → lower available supply → higher demand → higher price → miners' incentive still remains, regardless of smaller rewards, as the value of Bitcoin is increased in the process.
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