What happens at Bitcoin halving?

The last halving is predicted to occur in 2140, after which block rewards will not be in the form of bitcoins . Instead, miners will be rewarded with fees from network users, the people who buy and sell bitcoins, so that they are incentivized to continue processing transactions on the blockchain.

What is ‘the halving’? Simply put, a Bitcoin halving is the process of halving the rewards of mining Bitcoin after each set of 210,000 blocks is mined. By reducing the rewards of mining Bitcoin as more blocks are mined, a Bitcoin halving limits the supply of new coins, so prices could rise if demand remains strong .3 Oca 2022

The mining reward keeps halving every four years, and the next one is expected to be sometime in early 2024 . So far, 18.94 million BTC have been mined, and calculations suggest that it will reach the 21 million mark by 2140.