GlossaryIntermediate
Halving
A scheduled event that cuts a network's block reward, and new issuance rate, in half.
A halving is a scheduled event, built into a network's protocol, that cuts the block reward miners receive in half, slowing the rate at which new units of that cryptocurrency are issued.
Halvings are a defining feature of some networks' long-term issuance design, gradually reducing new supply growth over time according to a predetermined schedule. See Kaavon's "Block Reward" and "Max Supply" glossary definitions for the specific payout this reduces and the cap some networks' halving schedules work toward.
Examples
- Bitcoin's block reward is cut in half roughly every four years through scheduled halvings.
- A halving reduces new issuance, but doesn't affect coins that have already been issued.