Transactions in the cryptocurrency are recorded on a universally accessible ledger called a blockchain. Miners pack transactions into blocks, solve cryptographic puzzles, and receive rewards in newly created bitcoins, a process designed by Nakamoto for the finite circulation of 21 million bitcoins.
Each halving event reduces the reward for miners, with the latest one scheduled to decrease from 6.25 bitcoins to 3.125. This reduction in supply of new bitcoins is expected to drive up the price due to stable demand.
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