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Less than 52,305 blocks need to be found before the subsequent halving of the Bitcoin network. It will occur on April 29, 2023, at 11:06 a.m. Eastern Time (ET). The number of blocks that must be found is at this block height. According to this, the network has grown throughout the 210,000-block halving cycle, rising from 75% to 75.1%. Early The block reward was reduced from 6.25 bitcoins per block to 3.125 bitcoins.
The timer for Bitcoin’s halving has started. Less than 52,305 blocks remain to be discovered.
In just a few hours, the Bitcoin network has progressed toward the next block reward halving from 75% to 75.1%. Less than 52,305 blocks remain to be found before the event. This accomplishment was made on Sunday evening (ET). This noteworthy accomplishment marks yet another development in the ongoing development of the Bitcoin network. It approaches the 21 million bitcoin supply limit, which it will eventually reach. Every 210,000 blocks, or roughly every four years, the reward for finishing a block on the Bitcoin blockchain is halved.
Bitcoin has had three price cuts, or “halvings,” since its launch on November 28, 2012. Before this day, Bitcoin miners received 50 BTC for each block they found. After the initial reduction, the incentive was again reduced by half, reaching 25 BTC. The subsidy per block dropped from 12.5 bitcoins to 6.25 bitcoins due to the second halving, which took place on July 9, 2016, and the third halving, which will take place on May 11, 2020.
When this story was published, there were still 52,305 units to be located before the 50% barrier was met. The 75.1% mark was attained with a block height of 787,500. On or around April 22, 2024, there will be half as many bitcoins as today.
However, some estimates place the date a few days earlier or later than the actual date. If you use the current rate of 6.25 bitcoins per block, the annual inflation rate for bitcoin is 1.71 percent. The rate is projected to drop to 0.84 percent during the second half. According to the data, almost 900 new bitcoins are created each day. Bitcoin miners earn an average of $26,335,800 daily based on the current value of one bitcoin with other currencies.
Dash network to reduce payout on second proof-of-work (PoW) blockchain. In breaking news, it has been reported that a portion of the dividend will be withheld, but it is important to note that this is a decrease rather than a full half of the dividend. The Dash reward reduction will take effect in less than 53 days. Conversely, mining Litecoin (LTC) rewards will be halved in less than 95 days. On or around August 3, 2023, the LTC network’s incentive will decrease by half, from 12.5 LTC to 6.25 LTC.
