According to current statistics, the Bitcoin network is: 56,000 blocks and less than 400 days until the reward halving of After the next halving, the block reward will be reduced by 50% and the current block subsidy of 6.25 BTC will drop to 3.125 BTC per block after the halving. In addition to the approaching Bitcoin halving, the Litecoin network is expected to see its block rewards halved around August 3rd of this year.
Bitcoin reward halving is approaching. Litecoin Expects to Cut Block Rewards in August
As of March 29, 2023, there are 395 days left until the next Bitcoin Halving,starting April 21, 2024 Scheduled for 28 days, with a block interval rate of 10 minutes per block. Currently, less than 56,000 blocks can be mined until the block reward subsidy is halved. Due to the speed of block time, the April schedule may change.
The Bitcoin network halves the block reward for every 210,000 blocks mined. If blocks are mined at an average rate of about 10 minutes, all halvings occur approximately every 4 years. The first halving occurred on November 28, 2012 at a block high of 210,000. The next reward halving occurred on July 9, 2016, and another on May 11, 2020. After the April 2024 halving, the fifth halving is expected to occur in 2028.
Using today’s BTCexchange rate, current reward 6.25 BTC(not including network fees) is just over $177,000 per block. If the price of BTC remained unchanged when it halved to Bitcoin, the block reward would be valued at $88,500 per block. Of course, Bitcoin miners and network participants expect the price ofBTCto rise by the next halving.
Regardless of the price of BTCat the time, the miner’s revenue would be cut in half and should be adjusted accordingly. Bitcoin’s annual inflation rate is currently 1.71% and will drop to 0.84% after the next halving event. Over the last 2,016 blocks mined, metrics show that the network has an average hashrate of about 338.3 exahashes per second (EH/s), and just recently hit 400 EH/s. .
Bitcoin’s halving is expected to occur within 400 days, while Litecoin’s reward halving is estimated to occur within years. expected to occur. According to the current LTC block time, the Litecoin network will halve on August 3, 2023. Litecoin reward reduced from 12.5 LTC to 6.25 LTC. Approximately 11.4 million LTC blocks remain. Not exactly a halving, but current stats show that the Dash network is expected to see a decrease in rewards within 84 days. After the reduction, the reward will decrease from 2.763 DASH to 2.566 DASH.
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