Bitcoin & Bitgesell Halving in April
Bitcoin & Bitgesell Next Halving
In cryptography, especially in Proof of Work (PoW) based blockchain systems like Bitcoin or Bitgesell, halving refers to the reduction of mining rewards by half at predetermined intervals. In the case of BTC, this process occurs approximately every four years, decreasing the rate at which new cryptocurrency units are created. Meanwhile, BGL coin experiences halving every year.
The goal is to control inflation, ensuring a capped and finite supply; both BTC and BGL have a maximum supply of 21 million coins. The most well-known example is Bitcoin's halving, which happens every 210,000 blocks, similar to Bitgesell Coin. This mechanism introduces scarcity over time, influencing the economic dynamics of the cryptocurrency and potentially impacting miners' incentives and network security.
Bitgesell and Bitcoin will reach the same number of coins mined by April 2024. Bitgesell undergoes yearly halving until 2054, while Bitcoin experiences halving every four years until 2140.
In total, there will be 34 Bitcoin halvings and 34 Bitgesell halvings.
Facts:
Bitcoin started running:
3 January 2009
1st BTC Halving
Date: 28 November 2012
BTC mined during 4 years: 10 500 000 coins
2nd BTC Halving
Date: 9 July 2016
BTC mined during 4 years:
+ 5 250 000 coins
3rd BTC Halving
Date: 11 May 2020
BTC mined during 4 years:
+ 2 625 000 coins
4th BTC next Halving
Date: 23 April 2024
BTC mined during 4 years:
+ 1 312 500 coins
Total coins mined after Bitcoin halving April 23, 2024:
19 687 500 BTC coins*
* Bitcoin doesn't have burn mechanism!
Source: https://bitaps.com/
Bitgesell started running:
4 April 2020
1st Bitgesell Halving
Date: 28 Mars 2021
BGL mined during 1 year:
10 500 000 coins
2nd Bitgesell Halving:
Date: 4 June 2022
BGL mined during 1 year:
+ 5 250 000 coins
3rd Bitgesell Halving:
Date: 18 April 2023
BGL mined during 1 year:
+2 625 000 coins
4th Bitgesell next Halving:
Date: 24 April 2024
BGL mined during 1 year:
+ 1 312 500 Coins
Total coins mined after Bitgesell halving April 24, 2024:
19 687 500 BGL coins*
* IMPORTANT: Except burnt coins:
Source: https://bgl.bitaps.com/
Bitgesell Article about Bitgesell Scarcity:
https://news.bitcoin.com/halving-burns-on-bitgesell-the-optimal-combination-for-scarcity-and-value-in-the-crypto-age/
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