What is bitcoin halving?

The Bitcoin Halving is when Bitcoin's mining reward is split in half. It takes the blockchain network about four years to open 210,000 more blocks, a standard set by the blockchain's creators to continuously reduce the rate at which the cryptocurrency is introduced. The first reward was 50 bitcoin. Previous halving dates were:

What is bitcoin halving day?

Every four years, on the halving day, the amount of new Bitcoins created gets cut in half. This means that when Bitcoin halves, the reward given to the contributors securing the network is reduced by 50%, directly impacting the rate at which new Bitcoins are introduced into circulation. This is what we're referring to as the halving day.

What happens when Bitcoin halving?

When Bitcoin undergoes a halving, the number of new Bitcoins that are made gets cut in half. Said differently, there's a 50% reduction in the reward miners receive for validating transactions and adding them to the blockchain. This event is coded into the Bitcoin protocol and occurs approximately every four years or after 210,000 blocks.