Bitcoin Undergoes Fourth ‘Halving’ Event
Bitcoin, the decentralized cryptocurrency created by the pseudonymous Satoshi Nakamoto, has undergone its fourth deflationary evolution, reducing the block reward to 3.125 BTC.
The much-anticipated fourth Bitcoin “halving” event has come and gone with little fanfare or market reaction. Many participants noted that the change was already priced in by market makers.
Bitcoin “halving” is a pre-coded software update that reduces the reward for miners–network operators who play a crucial role by devoting their processing power to the “discovery” of new coins. These halving events occur every 210,000 blocks mined, historically equating to one halving event every four years.
Speaking to The Block, crypto exchange Kraken’s head of strategy Thomase Perfumo explained that this halving was possibly the “most significant” yet:
“Firstly,
