Nicole Junkermann explores Bitcoin halving
Nicole Junkermann, NJF Capital founder, presents Blockchain, the world’s most trusted all-in-one crypto company. Blockchain are connecting the world to the future of finance through their suite of products including the leading crypto wallet, bitcoin explorer, and market information.
On 11 May 2020, a twitter post of a block of code confirmed that the much-hyped third Bitcoin halving had taken place.
The halving process was built into Bitcoin’s code by its creator, Satoshi Nakamoto, to control inflation.
New Bitcoins are released when miners unlock blocks of data by verifying transactions and solving complex mathematical problems.
Every 210 000 data blocks, the rate that coins are released at to miners is halved, until the rate reaches zero, which is scheduled to happen around 2140 — capping the total number of Bitcoins at around 21 million.
Previous halvings, in 2012 and 2016, have preceded periods of rapid growth for Bitcoin, with the currency reaching a peak price of $20 000 in December 2017.
Blockchain.com is a crypto exchange that provides a secure wallet to buy, sell and trade cryptocurrencies like Bitcoin.