How Block Rewards Change Over Time
Exploring the Evolution of Block RewardsThe evolution of block rewards is a fascinating aspect of cryptocurrency that has changed significantly over time. In the early days of Bitcoin, miners were rewarded with 50 bitcoins for every block they successfully mined. However, this reward is halved approximately every four years, a process known as the "halving event." This reduction in block rewards is a deliberate mechanism designed to control the supply of new bitcoins entering the market and ensure the scarcity of the cryptocurrency. As a result, the total supply of Bitcoin is capped at 21 million coins, making it a deflationary asset with a limited supply.
The first halving event occurred in 2012 when the block reward was reduced to 25 bitcoins. Subsequent halvings took place in 2016, re...








