TheHalvening.com depicting the completion of the countdown to the second halving in bitcoin’s history
Bitcoin halving is a process that is built into Bitcoin’s code, and it occurs once for every 210,000 blocks mined, roughly every 4 years. The process affects how much of a reward miners receive for validating new blocks of transactions on the blockchain. This weekend marks the Bitcoin Halving for 2016, and the next halving won’t happen until the year 2020. The final halving will take place in the year 2140.
Despite the uncertainty, the second halving was positively embraced as a pivotal moment in bitcoin’s history.
Social media was abuzz with excitement as everyone counted down the final blocks until
block 420,000, which was mined on Saturday at 16:46 GMT. Since the halving, the network has been
demonstrating signs of good health with normal transaction times.
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