In Short:The Bitcoin halving is an event where mining rewards are cut in half.This halving of rewards occurs every four years.This logic of cutting down the reward by half every 4 years comes pre-coded into Bitcoin\u2019s blockchain protocol.Bitcoin is rightly touted as a store of value and is seen as digital gold by many crypto investors & enthusiasts. One of the contributing factors that makes it a valuable asset to hold and preserve is its Reward halving cycle. This event makes it more scarce and increases the demand due to supply shock, which creeps up.Today we will look into this unique phenomenon and understand how it functions and why it enhances the Bitcoin value.Before we delve deep into this question, we need to understand what are the underlying technology which powers the bitcoin network. So we will cover the following concepts brieflyBlockchain NetworkBitcoin Mining & Proof-Of-WorkBitcoin Blockchain Network Working :Bitcoin\u2019s blockchain network consists of hundreds and thousands of nodes(computers) that run the bitcoin client (mining ) software, these nodes stores all the transaction history across the network. These nodes are owned by common people or businesses and are distributed across the globe. The key role of these node owners is to approve or reject any transaction in the network.How do they verify the transactions?Every node who participates in the blockchain network as a miner runs a mathematical operation and performs a series of checks to validate the transaction for correctness. They check all the parameters in consideration are valid. For example, nonces of the concerned transaction should not be exceeding the length of the block, which is pre-defined as a rule in the blockchain.If anyone node successfully validates the correctness of the information, this information becomes a part of a new block and is broadcasted across the blockchain network of\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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