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Every 4 years on average (210k blocks) The rewards granted to bitcoin miners for adding a block to the blockchain is cut in half . The bitcoin halving was designed by satoshi nakamoto to keep bitcoin inflammation in check. Since the halving basically cut supply of bitco8n in half, many believe this event will have dramatic effects on bitcoin price. There are 3 concepts about bitcoin network you need to understand that will make bitcoin halving easier to understand. The concept are The bitcoin blockchain, Bitcoin mining and bitcoin supply. Bitcoin blockchain is basically a life running record of all bitcoin transactions .once a certain amount of transaction data has been collected, a block is formed . Blockchain is then simply groups of transaction data linked together.
The basic structure of bitcoins blockchain consist of a network computer around the world with bitcoin software installed on them. The verification and posting of transaction in blockchain is completed by miners called mining.
Miners are pools of people that use computer processing power to maintain the bitcoin blockchain. The basic concept you need to know about bitcoin mining to better understand halving of bitcoin. Miners are rewarded with bitcoin each time they verify a new block of transaction. Mining reward are combination of newly minted bitcoin units that were not previously circulating and transac

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