The mined block also represents the halfway point to the next halving that is estimated to take place on or around April 27, 2024.
The Bitcoin network is getting closer to the next halving which is estimated to happen on or around April 27, 2024, or 723 days from now.
The halfway point to the halving follows Bitcoin’s hashrate all-time high recorded on May 2, 2022, at block height 734,577.
At the time of writing, the network has 767 blocks left until the next difficulty retarget which is expected to happen on or around May 10, 2022.
When the next halving occurs, bitcoin miners will see their revenues shaved in half as the block subsidy reward will change from the current 6.25 BTC reward to 3.125 BTC.
The second halving occurred on July 9, 2016, at block height 420,000, and the third halving event took place on May 11, 2020, at block height 630,000.
Federal Reserve and other central banks worldwide like to target a 2% inflation rate per annum, but that has changed a great deal since the Covid-19 pandemic and the monetary supply expansions that took place globally.
When the next halving occurs 105,000 blocks from now, Bitcoin’s inflation rate will be an estimated 1.1% per annum.
Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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