To understand what Bitcoin Halving is, you first need to understand Bitcoin mining's basics. In short, new Bitcoins are coming into the world as a reward for miners every time they mine a block of Bitcoin.
Once the Bitcoin protocol rules were set up by Satoshi Nakamoto, he declared two crucial points, among others: first, that Bitcoin's supply is finite and limited to 21 million. Second, the number of bitcoins produced per block i.e. the reward is set to reduce every 210,000 blocks by 50 per cent.
Although 6 blocks are found on average within an hour and halving occurs once every 210,000 blocks, then a halving event occurs every 4 years (give or take). This effectively means that the mining incentive from what it used to be would be reduced by 50 per cent. For example, if any miner receives 12.5 Bitcoins today to solve a block, they will receive only 6.25 Bitcoins and so on after the next halving occurrence.
The two most well-known cryptocurrencies today are Bitcoin and Ethereum, with the former being the legacy cryptocurrency developed by the anonymous Satoshi Nakamoto in 2008 and the latter introduced by VitalikButerin in 2013.
Bitcoin is predicated on being an efficient, censorship-resistant value system outside the conventional financial domain while Ethereum is built as a' decentralized world computer' where Turing-complete functionality allows users to create and run network applications through the Ethereum Virtual Machine (EVM).
And, because of the big bitcoin halving in May, you've got to search for the next project you might invest in. One such idea is Thesaurum.
Thesaurum is a game reward platform that digitizes, tokenizes, and offers a range of assets, like gold mines in Ghana.
Many game prizes are allocated in some way, using smart contracts, to all game players from the pool of funds.
As a result, Thesaurum provides a platform where users play in different games and use Blockchain technology to win high-priced products from around the world in a fair and safe way.
