Okuzeka
Blockchain & Crypto vocabulary · Consensus, Mining & Staking

Halving

Meaning in blockchain & crypto, with examples

/ˈhæv.ɪŋ/nounCommon term

In blockchain & crypto, halving means: A built-in event in Bitcoin's code that cuts the block reward for miners in half every 210,000 blocks, roughly every four years, slowing down the creation of new coins.

In Turkish: yarılanma, halving

How it is used

Called the halving (sometimes the halvening) and discussed in news and miner reports: before or after the halving, the next halving, the impact on miners' revenue. The April 2024 halving cut the reward from 6.25 to 3.125 BTC per block.

Example sentences

  1. After the halving, miners earn half as many new bitcoins for each block.

  2. The report looks at how the last halving affected small mining companies.

Common collocations

  • Bitcoin halving
  • the next halving
  • after the halving
  • halving cycle
  • block rewardThe new coins a miner or validator receives for adding a block to the chain. On many networks, the transaction fees in that block are paid on top of the reward.
  • BitcoinThe first cryptocurrency, launched in 2009 by an unknown person or group using the name Satoshi Nakamoto. It runs on its own proof-of-work blockchain and has a maximum supply of 21 million coins.
  • miningThe process in proof-of-work blockchains where computers compete to solve a difficult puzzle. The winner adds the next block and receives newly created coins and fees as a reward.
  • minerA person, company or computer that takes part in mining on a proof-of-work blockchain, using hardware and electricity to compete for the right to add new blocks.
  • circulating supplyThe number of coins or tokens that are currently available and moving in the market, not counting those that are locked, reserved or not yet created.

More terms: Consensus, Mining & Staking

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level: