Current Blocking Times Suggest Bitcoin Halving Is Coming Sooner Than Expected – Bitcoin Featured News


Bitcoin hash rate has been hot despite the recent price drop and increased difficulty. In fact, blocks are detected faster than the average 10-minute block interval and due to this factor, the network reward halving may come sooner than expected. While some halving counters that simply benefit from the ten-minute average indicate a halving is expected in May or April 2024, halving counters that take advantage of minute interval periods show that the halving event can occur as early as March 1, 2024.

The periods of blocks appear in half may be much closer than expected

While the crypto community focuses on The Merge, the hashing power behind the Bitcoin network has been higher than usual, accelerating the ban periods. Currently, there are 244.62 exahs per second (EH/s) dedicated to the blockchain, and on September 4, 2022, it benefited from a rapid rise in age at 301.45 EH/sec At block height 752510.

The current ban times indicate that the Bitcoin halving is coming sooner than expected
Bitcoin block times were well below the 10-minute average, which means blocks are found faster.

Just before the end of August, Bitcoin.com News mentioned About how Bitcoin ban times were much faster than the 10-minute average. When block times are faster than the 10-minute average and are consistently faster during the two weeks before the difficulty change, shifting will increase the difficulty.

This is what happened on August 31, when the Bitcoin network was printed The second largest increase in difficulty in 2022. The increase in difficulty has not slowed down miners and the next difficulty change expected on September 15 is can increase again by more than 3%.

The current ban times indicate that the Bitcoin halving is coming sooner than expected
according to bitcoinsensus.com data, the halving is expected to happen on March 2, 2024 or 509 days from now.

Ban times were much faster than the ten-minute period and on 9/11, it was average block time It was less than eight minutes. The speed of block discovery made it so, so the Bitcoin network could halve much earlier than expected. However, the estimate is based on the data and speeds recorded now, and there is still more than a year of time that could change things indefinitely.

today data from bitcoinsensus.com and metrics From nicehash.com indicates that the fourth Bitcoin halving event will occur in March 2024. The date is long before much use May 3, 2024 Estimatewhich takes advantage of a ten-minute interval to calculate the halving date.

In fact, bitcoinsensus.com shows two counters with one based on current block times (8.50 minutes) and one counter based on an average of ten minutes per block. Bitcoinsensus.com estimates that the current halving date, based on actual block times, will be March 2, 2024. So instead of 598 days away, the Bitcoin halving is estimated to be 509 days away.

The Nicehash.com halving counter shows that the date could occur on March 1, 2024, or a day earlier than the estimate displayed on the bitcoinsensus.com web portal. Every time 210,000 blocks are mined, the mass is halved.

The current ban times indicate that the Bitcoin halving is coming sooner than expected
Half block bonus over time.

The current block reward is 6.25 BTC For each block and by the time the next halving occurs, miners will receive 3,125 coins per block after the halving. Closer halving indicates that the price may rise sooner than expected as the value of bitcoin usually rises before the block reward halving.

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What do you think of the Bitcoin halving coming sooner than expected? Tell us what you think about it in the comments section below.

Jimmy Redman

Jamie Redman is the head of news at Bitcoin.com News and a technology financial journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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