Bitcoin

Block

Rewards

In a historic event, Bitcoin’s 840,000th block marked the fourth-ever halving, cutting miner rewards by 50% to 3.125 BTC.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img decoding="async" width="1024" height="314" src="https://www.cryptotimes.io/wp-content/uploads/2024/04/Bitcoin-840000th-Block-Halving-Cuts-Miner-Rewards-by-50-1024x314.png" alt="Bitcoin 840,000th Block Halving Cuts Miner Rewards by 50%" class="wp-image-151313">
 <figcaption class="wp-element-caption">
 Bitcoin 840,000th Block Table &nbsp;| Source :&nbsp;Mempool.space
 </figcaption>
 </figure>
</div> 
Bitcoin users <a href="https://twitter.com/LeonidasNFT/status/1781476576971858414" target="_blank" rel="noopener" data-wpel-link="external">spent</a> 37.62 BTC, valued at $2.4 million, on fees for a spot on this coveted block, making it the most sought-after real estate in Bitcoin history. ViaBTC, the miner earned a staggering $2.6 million, including the reward. 
The frenzy stemmed from Runes Protocol’s launch, promising efficient token creation on Bitcoin. Runes, unlike BRC-20 tokens, etch new tokens using a UTXO model. This innovation drove fees to surpass miner rewards, totaling $3.82 million in five blocks post-halving. 
Meanwhile, crypto enthusiasts reacted variedly. Hsaka shared a meme capturing the halving’s fleeting excitement, while Peter Schiff criticized Bitcoin holders, anticipating a “halving” of their net worths. 
The halving showcased Bitcoin’s resilience amidst fee wars and innovative protocols, highlighting the community’s zeal and the market’s dynamic nature. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/19/bitcoin-nears-halving-event-less-than-100-blocks-remaining/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Bitcoin Nears Halving Event, Less Than 100&nbsp; Blocks Remaining</a> 
</blockquote>

Bitcoin’s 840,000th Block Halving Cuts Miner Rewards by 50%

The Crypto Times

Other articles published on Apr 20, 2024

Dogecoin’s Market Rally on Its Special Celebration Day

How This Trader Made Over $1.4 Million in 2 Days Trading Solana (SOL) Memecoins

Experts Say These Hidden Gem Cryptos Are About to Explode

Polkadot & USD Coin Holders Diversify into Fezoo Exchange Presale, Banking on 20X Gains Amid Mark...

Benzinga Bulls And Bears: Tesla, DraftKings, Broadcom And Trader Says Buy Dogecoin In High 10 Cen...

Uniswap's Upward Momentum: Analysts Predict Surge Amid Market Optimism

Join our free newsletter for daily crypto updates!