11 May 2020 22:17:58 UTC
Bitcoin price $8,500
Image by Ryan "Ryz0n" Tang; Happy little modifications done by ScottyGEE.
What is a block halving event?
As part of Bitcoin's coin issuance, miners are rewarded a certain amount of bitcoins whenever a block is produced (approximately every 10 minutes). When Bitcoin first started, 50 Bitcoins per block were given as a reward to miners. After every 210,000 blocks are mined (approximately every 4 years), the block reward halves and will keep on halving until the block reward per block becomes 0 (approximately by year 2140). As of now, the block reward is 6.25 coins per block and will decrease to 3.125 coins per block post halving.
The first halving event occurred on the 28th of November, 2012 at block height 210,000
The second halving event occurred on the 9th of July, 2016 at block height 420,000
The third halving event occurred on the 11th of May, 2020 at block height 630,000