A halving protocol is a programmed event within certain cryptocurrency networks that periodically reduces the reward for mining new blocks by half. This mechanism controls the supply issuance of the digital asset, making it scarcer over time. Bitcoin’s halving event, occurring approximately every four years, serves as a prominent example of this deflationary monetary policy. Such protocols are designed to extend the asset’s lifespan and potentially increase its value.
Context
Halving protocols are major events in the cryptocurrency calendar, especially for assets like Bitcoin, and frequently generate significant news coverage and market speculation. Analysts often discuss the potential impact of an upcoming halving on asset price, miner profitability, and overall network security. These scheduled supply shocks are key to understanding the long-term economic models of many proof-of-work cryptocurrencies.
Researchers halved Verifiable Delay Function verification gas costs, making cryptographically secure, unbiasable randomness practical for resource-constrained smart contracts.
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