There are now fewer than 52,305 blocks remaining to discover before the next Bitcoin network halving. It will take place on April 29, 2023, at 11:06 a.m. Eastern Time (ET). This is the block height at which the number of blocks must be discovered. This indicates that the network has made it from 75% to 75.1% through the 210,000-block halving cycle. Early It was reducing the block reward from 6.25 bitcoins per block to 3.125 bitcoins per block.
The second proof-of-work (PoW) blockchain to see a reward cut will be the Dash network. But rather than being an actual half of the payout, the portion that will be withheld is a reduction. In less than 53 days, the Dash reward reduction will become effective. On the other hand, in fewer than 95 days, the rewards for mining Litecoin (LTC) will be cut in half. The incentive for using the LTC network will be cut in half, from 12.5 LTC to 6.25 LTC, on or about August 3, 2023.
The countdown to Bitcoin’s Halving has begun: There are fewer than 52,305 Blocks left to Discover
The Bitcoin network has reached from 75% to 75.1 % in just few hours of the way toward the next block reward halving. There are fewer than 52,305 blocks are left to discover before the event. This milestone was reached on Sunday PM (ET). This significant achievement represents yet another stage in the ongoing growth of the Bitcoin network . As it moves closer to reaching its ultimate maximum supply of 21 million bitcoins. The reward for completing a block on the Bitcoin blockchain is halved every 210,000 blocks, which occurs approximately once every four years.
Since its inception on November 28, 2012, Bitcoin has experienced three price reductions referred to as “halvings.” Prior to this date, Bitcoin miners were compensated 50 BTC per block discovered. Following the initial halving, the incentive was again cut in half, falling to 25 BTC. The second halving, which occurred on July 9, 2016, reduced the subsidy per block to 12.5 bitcoins, and the third halving, which will occur on May 11, 2020, will bring the subsidy per block to its current level of 6.25 bitcoins.
The 75.1% mark was reached with a block height of 787,500, and at the time this story was written, there were still 52,305 units to be found before the 50% mark was reached. On or around April 22, 2024, there will be half as many bitcoins as there are now.
Some estimates, though, put the date a few days before or after the real date. The inflation rate for bitcoin is 1.71 percent per year if you utilize the current rate of 6.25 bitcoins per block. During the subsequent half, it is anticipated that the rate will decrease to 0.84 percent. The statistics show that every day, roughly 900 new bitcoins are created. Taking into account how much one bitcoin is worth right now in comparison to other currencies, Bitcoin miners make an average of $26,335,800 per day.
