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It was the third bitcoin halving, which everyone was eagerly waiting for. Curiously, several countdown timers indicated that the halving would happen on May 12, but due to higher network speed, this happened a day earlier. The main objective of this mechanism, which was laid down in the protocol of the blockchain network more than ten years ago, is to control the emission of cryptocurrency and curb its inflation. Each new block is lined up with the previous blocks – this is where the name of the blockchain comes from. Block contains information on all transactions processed in 10 minutes, including a hash of transactions, addresses of wallets from which, and where bitcoins were transferred.
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Read Also: Cop arrested for rape after he ‘made woman have sex with him to get out of speeding ticket’There is no consensus on the influence of the third halving. Some give fantastic predictions of unprecedented growth, while others believe that no significant changes will occur.
Over the last month before halving, the bitcoin exchange rate rose by 26%, and a week ago, the cryptocurrency soared to $10,000 for a short while. But then began to fall again.
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