Halving bitcoin is also referred to as "Halvening," it is a designed reduction in the incentive coins provided to miners using a predefined blockchain algorithm. Bitcoin halvings occur roughly once in every four-four years, or about every 210,000 block transactions.
The cycle of bitcoin halving started in 2012, approximately after 4 years of bitcoin development i.e. 2008, but literally bitcoins came into operation in the year 2009. The block incentive of 50 bitcoins per transaction was lowered to 25 bitcoins per block or transaction following the first bitcoin halving, later this incentive was further lowered to 12.5 and will now decline to 6.25 following halving in 2020.
infographic by: winbtc.net
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