March 2018
Beginner to intermediate
656 pages
20h 9m
English
Content preview from Mastering Blockchain - Second Edition
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Mining rewards
When Bitcoin started in 2009 the mining reward used to be 50 bitcoins. After every 210,000 blocks, the block reward halves. In November 2012 it halved down to 25 bitcoins. Currently, it is 12.5 BTC per block since July 2016. Next halving is on Friday, 12 June 2020 after which the block reward will be reduced down to 6.25 BTC per block. This mechanism is hardcoded in Bitcoin to regulate, control inflation and limit the supply of bitcoins.