Gate.io releases "Halving countdown" for ten major currencies in 2020
Bitcoin's block reward will be halved every 210,000 blocks, and it is expected that in May 2020, Bitcoin will usher in its third halving. This means that the Bitcoin reward that accompanies each block after that will be reduced from the current 12.5 BTC to 6.25 BTC. This halving of Bitcoin is one of the fundamental events of 2020. In addition to BTC, the other nine major currencies (ETC, BCH, BSV, DASH, XZC, ZEC, ZEN,SERO,BCD) will also complete their first halving in 2020. To this end, Gate.io has released a halving countdown page for the eight major currencies in 2020, which aims to keep users informed of the latest halving situation, countdown, related knowledge, and halving timetables.
You are more than welcome to visit our new Bitcoin halving countdown page: https://www.gate.io/halving
If you have any suggestions or questions about the page, please feel free to contact us through customer support online or by submitting a ticket.
Halving Schedule in 2020
What is the Bitcoin Halving?
The Bitcoin halving is also called the bitcoin block reward halving, where the mining reward of each new block halves about every four years. This means that the reward of each newly mined block is cut in half after the halving. When Bitcoin came into existence in 2009, its block reward was 50 BTC. The block reward halves about every four years based on block time and will eventually reach its finite total supply of 21 million.So far, Bitcoin has had two halvings; one in November 2012 and one in July 2016, respectively. The upcoming third halving is estimated to take place in May 2020. By that time, the reward will decreases from 12.5 to 6.25 BTC.
Why does Bitcoin halve?
According to supply and demand theory, if a commodity does not limit its supply in circulation, excessive supply will occur, and its price will fall. This concept applies to bitcoin too. Using halving to limit its amount and circulation can increase scarcity and make it more valuable. The block reward of Bitcoin is programmed to cut in half every 210,00 blocks, which can slow down the inflation rate and allow new coins to enter into circulation in a controlled manner. Bitcoin halving is also a distinct feature that sets it apart from traditional fiat currencies.
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