Crypto fans count down to bitcoin’s ‘halving’

Bitcoin enthusiasts anticipated Friday’s ‘halving’, a scheduled change in the cryptocurrency’s protocol aimed at reducing the rate of new bitcoin creation.

Occurring approximately every four years, the halving is a fundamental aspect of Bitcoin’s design, limiting the total supply of bitcoins to 21 million tokens.

Chris Gannatti of WisdomTree described the halving as a significant event in the crypto world.

While some view it as a testament to bitcoin’s scarcity, skeptics regard it as a mere technical adjustment hyped by speculators.

The halving reduces the rewards for cryptocurrency miners, making it costlier to introduce new bitcoins into circulation, Reuters reported.

read more: https://www.reuters.com/markets/currencies/crypto-fans-count-down-bitcoins-halving-2024-04-19/

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