Halving is an event in which the reward for mining a cryptocurrency, like Bitcoin, is halved to control the supply.
Halving is an event in the world of cryptocurrencies where the amount of new cryptocurrency units created and earned by miners is cut in half. This event happens at pre-set blocks on the blockchain. The most famous example is the 'Bitcoin halving', which occurs approximately every four years, or more specifically, every 210,000 blocks. The primary purpose of halving is to control the supply of the cryptocurrency, preventing inflation and prolonging the life span of the blockchain.
Bitcoin's halving events that occur approximately every four years. The last Bitcoin's halving event took place in 2020, when the block reward for miners was reduced from 12.5 to 6.25 Bitcoins. This event was closely watched by investors and traders, as halving events can impact the price of a cryptocurrency due to the reduced rate of new supply. On the next halving event, the reward received by a Bitcoin miner per block will be half of 6.25 Bitcoins (3.125BTC).