[EN] Block 840,000 : Happy halving !
Happy halving !
We're all gathered here, on The 20th of April 2024, to celebrate Bitcoin's fourth halving at Block 840,000!
For those new to the scene, let's explain a little - Bitcoin, known as the world's first decentralized cryptocurrency, was created by an anonymous individual or group known as Satoshi Nakamoto. Unlike traditional fiat currencies, Bitcoin is not controlled by any central authority. Instead, it operates on two technologies called blockchain and gossip, which, put together, give a decentralized and secure digital ledger.
One of the most interesting features of Bitcoin is its limited supply. There will only ever be 21 million Bitcoins in existence. This scarcity is maintained through a process called mining, where individuals and groups compete to solve complex mathematical puzzles and create new blocks of transactions in the blockchain. In return for their efforts, miners are rewarded with a certain number of Bitcoins.
However, to control the rate at which new Bitcoins are introduced into the system, the reward given to miners is halved every four years or approximately every 210,000 blocks. This event is known as the Bitcoin halving. Today, we've witnessed the reward drop from 6.25 to 3.125 Bitcoins, marking the fourth halving in Bitcoin's history.
For some, halving events are significant as they often have a huge impact Bitcoins price. Historically, we've seen that the value of Bitcoin tends to rise in the months and years following a halving.
So, let's raise a glass to this milestone ; Here's to the future of cryptocurrency and the continued growth and adoption of this remarkable protocol.
- Cheers !!