The Halving: What Bitcoin’s Block Reward Milestone MeansToday the 420,000th block of bitcoin’s blockchain was mined, bringing about the first reduction in the mining reward since 2012. Computer processing power around the world combines to secure bitcoin’s network and verify transactions; the reward they get for mining a single block is now 12.5 bitcoin, falling from 25.0. It will fall again to 6.25 sometime in 2020. Crypto-enthusiasts around the world are celebrating bitcoin’s maturity with halving parties. Instead of around 3,600 newly minted bitcoin becoming available on a day-to day basis, this number is cut in half to 1,800...
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