Newsletter 55: Two weeks to Halving

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“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” — Mark Twain

                           BitOrb and its BTC halving countdown, available on the website

The Bitcoin Halving is when the block reward received by Bitcoin miners is halved from 12.5 to 6.25 BTC. This is a feature built-in to the blockchain protocol that applies deflationary pressure to the circulating supply over time. It has happened twice before and will continue to do so every 210,000 blocks created until the year 2140. This also serves as a mechanism to promote invention or solutions to more efficient and environmentally-friendly methods of producing the energy needs required of the Bitcoin infrastructure.

With the number of mining rigs expected to increase in the coming years, efficiency of hashpower (processing power) and use of energy with decreasing rewards should motivate the industry players to do better. This has resulted in campaigns for using renewable energies such as solar and hydro power, and the introduction of greater computing power for the mining rigs.

When is BITCOIN HALVING?

The next Bitcoin Halving is estimated to occur on May 12th 2020. Read more about this event at our website.

Updated TESTNET: 23 April 2020

The testnet has been updated and TestBTC reset to 10. In anticipation of the coming launch, we have rolled out another feature: Calculator 1.0. Please login to the latest version of the BitOrb Exchange today!

by

Hoong-Teng Lim

27th April 2020

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