We are currently in the third stage of halving of the thirty-four stages that will exist. The calculations of all the halving are done and it is known how many bitcoins will be awarded for each block from its beginning until the last one is extracted. We can also see how many bitcoins the period opens and how many it closes, as well as the amount added. The table that can be seen below establishes the percentage of bitcoins in circulation with respect to the total and the date on which this figure was reached. Projection of added bitcoins in the short term An amount of 2.628.000 bitcoins would be released annually, which if we divide it by the total possible bitcoins, which is 21.000.000 bitcoins, gives us almost eight years the time it would have taken to put all the bitcoins into circulation. Initially 50 BTC per block was distributed, which is 300 bitcoins per hour or 7200 bitcoins per day. It would have taken a few years for all the bitcoins to be put into circulation. Fees with little cost since Bitcoin would not have given it time to revalue itself so much that it was profitable to mine. Therefore, miners will only receive transaction fees as compensation. If the halving process didn't exist it would have been a long time since all the bitcoins would have been mined. What would have happened without halving in Bitcoin? Within this period in which we are, 2.625.000 BTC will be added, which will mean reaching 18.375.000 BTC and we will reach the amount of BTC in circulation of 87.5%. We must bear in mind that with the first 210.000 blocks the figure of 50% of the bitcoins in circulation was reached. In this way, if we look at the evolution in Bitcoin to the present, we see we have reached the figure of 86,554% of the bitcoins in circulation. In our case, it is the CPU time and electricity that is spent The constant addition of a fixed amount of new coins is analogous to that of gold miners who spend resources to add gold to circulation. Satoshi Nakamoto who devised the mechanism in Bitcoin said the following: A predictable process of initial democratization for the distribution of the currency that gives the opportunity to avoid that all ends up in a few hands. This issuance generates that there are new cryptocurrencies in circulation and we can buying bitcoinseasily. To achieve this, this scaling mechanism was established to control the emission. The halving is a mechanism created so that the cryptocurrencies, like bitcoin. deflationary, or what is the same, to gradually increase its value. This automated process is called halving and is used to establish a certain time until the end of the issue of coins to order to pursue a model.
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However, the number of bitcoins that are released is not always the same, it is established by the software that each certain number of blocks is halved. Bitcoin software establishes that bitcoins will be released for reward miners as they create blocks validating transactions, at a rate of every 10 minutes on average. All this is because the amount of bitcoins that may come into existence is finite and is established in the Bitcoin software at 21 million bitcoins. The first cryptocurrency to implement this process was Bitcoin. This by setting with every certain number of blocks, the emission should be cut in half.
It was created to encourage mining through work test. H alving, is an automated process of halving the bitcoins miners receive as a reward for creating a block.
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