{"id":22699,"date":"2024-04-21T11:48:58","date_gmt":"2024-04-21T06:18:58","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=22699"},"modified":"2025-04-06T21:27:21","modified_gmt":"2025-04-06T15:57:21","slug":"bitcoin-halving","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/bitcoin-halving\/","title":{"rendered":"Bitcoin halving"},"content":{"rendered":"<h2><strong>About Bitcoin halving\u00a0<\/strong><\/h2>\n<ul>\n<li>The halving refers to an <strong>alteration in the foundational blockchain technology<\/strong> of Bitcoin, aimed at decreasing the pace of generating new bitcoins.<\/li>\n<li>Since its creation by the pseudonymous <strong>figure Satoshi Nakamoto<\/strong>, Bitcoin has been structured to possess a finite supply of <strong>21 million tokens.<\/strong><\/li>\n<li>The process of halving will persist until 2041, by which time all Bitcoins will have been mined.<\/li>\n<\/ul>\n<h2><strong>How does it happen?<\/strong><\/h2>\n<ul>\n<li>Blockchain technology involves creating records of <strong>information &#8211; called &#8216;blocks&#8217;<\/strong> &#8211; which are added to the chain in a process called &#8216;mining&#8217;.<\/li>\n<li>Miners use computing power to solve complex mathematical puzzles to build the blockchain and earn rewards in the form of new bitcoin.<\/li>\n<li>The blockchain is designed so that a halving occurs <strong>every time 210,000 blocks<\/strong> are added to the chain, roughly every four years.<\/li>\n<li>At the halving, the amount of bitcoin available as rewards for miners is cut in half. This makes mining less profitable and slows the production of new bitcoins.<\/li>\n<\/ul>\n<h2><strong>Impact the Crypto market<\/strong><\/h2>\n<ul>\n<li>Experts say that the halving event might impact Bitcoin&#8217;s price as its heightened scarcity could result in upward pressure on prices and attract a wave of new investors to the cryptocurrency market.<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1: What is Cryptocurrency?<\/h3>\n<p>Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and verify the transfer of funds. These currencies operate independently of a central bank.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/economictimes.indiatimes.com\/tech\/technology\/bitcoins-halving-what-is-it-and-does-it-matter\/articleshow\/109429802.cms\" target=\"_blank\" rel=\"nofollow noopener\"><u>Explained | Bitcoin&#8217;s &#8216;halving&#8217;: what is it and does it matter?<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin halving refers to an alteration in the foundational blockchain technology of Bitcoin, aimed at decreasing the pace of generating new bitcoins.<\/p>\n","protected":false},"author":5,"featured_media":22700,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-22699","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/22699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=22699"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/22699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/22700"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=22699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=22699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=22699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}