RATE Group | Why crypto experts are expecting a second explosion in value
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Why crypto experts are expecting a second explosion in value

12 May Why crypto experts are expecting a second explosion in value

Posted at 05:42h in Bitcoin News by

Bitcoin could be back on the agenda for plucky investors after the infamous cryptocurrency experienced a triggered “halving” event this morning.

At 5.23am AEST the cryptocurrency produced its 630,000th block and triggered the third-ever halving event in Bitcoin’s 11-year history.

In a nutshell, Bitcoin “halves” roughly every four years as a way to reduce the reward given to programmers who “mine” the currency using high-powered computers and complex algorithms.

Experts say criminals are less likely to use bitcoin on the darknet following the case.
Experts say criminals are less likely to use bitcoin on the darknet following the case. (Sitthixay Ditthavong)

Bitcoins are mined by specialised computer hardware which solves algorithms (or “blocks”) on a central banking sheet known as a blockchain.

To keep the value of existing Bitcoins, every 210,000 blocks the reward given for mining halves as a way of artifical inflation.

Only 21 million Bitcoins will ever be generated by the network, prompting some experts to believe that a second bull run of value is on the cards.

“History…

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