Bitcoin Halving 2020 Countdown Brings An Increase In BTC Demand Rates

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • The anticipation is here for the block reward regarding the halving for BTC, BSV, and BCH, which has built.
  • When the network initially launched then the miners have got 50 BTC for each and every block that they have found.
  • Bitcoin block rewards halved for the first time ever on 28th November 2012.

The anticipation is here for the block reward regarding the halving for Bitcoin, After successful Bitcoin cash and Bitcoin SV halving event. The three cryptocurrencies saw their rewards halving from 12.5 to 6.25 coins throughout the entire month of April and May. The day when Mr. satoshi Nakamoto created the bitcoin, he had also made the mine first block known as genesis block.

A Flashback to the First Halving

This will halves the reward with every 210,000 blocks when the network initially launched then the miners have got 50 BTC for each and every block that they have found. Not only this, but the rewards halved for the first time ever on 28th November 2012. Moreover, another 210,000 blocks were later on launched on 9th July 2016. BTC block reward halved again from 25 BTC to the present 12.5 BTC reward.

Later on, from that point, the network (such as BCH, BTC, and BSV) that leverage a similar consensus algorithm. These three networks have the mining operations that process block from the three blockchains, according to the more profitable than another one present there. Due to the switching network based factor according to the profitability, the users are inquisitive regarding what is going to happen with these three SHA256 networks when the halving events are taking place.

Right before the halving, the crypto enthusiasts like the ones who monitor the situation along with the plane as well called ‘halving parties.’ They are present here in order to celebrate the auspicious occasion. Due to this reason, the bitcoin news website has already listed out the famous halving countdown clocks along with some statistical sites which shows all kind of halving data. Such things will help readers who can easily follow the reward countdown. Meanwhile, the Bitcoin network is being scheduled to halve every 210,000 blocks, and this will take place today.

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