CryptoURANUS Economics: Halving: Defined in CryptoCurrency

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Tuesday, August 7, 2018

Halving: Defined in CryptoCurrency

Halving: Defined in CryptoCurrency

 

Halving comes from an Old English word meaning “half”. In cryptocurrencies, mining is a computer process of recording and verifying information on the digital record known as the blockchain. 


In bitcoin and other currencies, mining also requires computers compete with each other to solve a complicated math problem. 


Once solved, a new block is discovered that can be added to the chain of blocks and a reward of brand new bitcoin is given to the computer that solved the math problem first. Halving is the reduction of the bitcoin mining reward issued by half.

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