Assalamu Alaikum
How are you all I hope you are well by the infinite mercy of the Most Merciful Creator. Today we will discuss What is Bitcoin Halving? I will try to make a short informative discussion today.
![pexels-photo-14348488.jpeg](https://cdn.steemitimages.com/DQmPSkQhb4g5oCq3w6dDAEtLNzJNxkuefFgAtVb18kEWfcy/pexels-photo-14348488.jpeg)
[Source](https://www.pexels.com/photo/gold-coin-and-a-stylus-pen-14348488/)
Bitcoin halving is when Bitcoin mining rewards are split in half. It took about four years to unlock 210,000 more blocks on the blockchain network, a standard set by the blockchain's creators for the ever-decreasing rate at which cryptocurrencies are launched.
The core of the Bitcoin Network:
To understand the Bitcoin halving, you first need to know how the Bitcoin network works.
Bitcoin's underlying technology, the blockchain, consists of a network of computers (known as nodes) that run Bitcoin's software and hold a partial or complete history of transactions that occur on its network. Each full node has a complete history of Bitcoin transactions and is responsible for approving or rejecting a transaction on the Bitcoin network. To do this, the node performs a check to ensure that the transaction is valid. This includes ensuring that transactions have the correct validation parameters and do not exceed the required length.
![pexels-photo-1036635 (1).jpeg](https://cdn.steemitimages.com/DQmeVFjNzo77kjnqMpM9ZUHU7znXHbgxCQh33FD1qohkB18/pexels-photo-1036635%20(1).jpeg)
[Source](https://www.pexels.com/photo/round-gold-colored-bitcoin-1036635/)
This is said to happen only after all transactions in a block have been approved. After approval, the transaction is added to the existing blockchain and broadcast to other nodes
Adding more and more computers to the blockchain increases its stability and security. There were an estimated 18,830 nodes running Bitcoin code on March 5, 2024.3 Although anyone can participate as a node in the Bitcoin network as long as they have enough storage to download the entire blockchain and its transaction history, not all of them are miners.
Today's discussion ends here. I hope you find it interesting and understandable. Share your thoughts on today's topic. Greetings and blessings to all. Stay well everyone, stay healthy, stay tuned to Steemit.
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