Update on the Next BTC Halving

 Update on the Next BTC Halving

As per my erstwhile post on BTC halving, the halving was scheduled to happen on 23rd April, 2024 13:24:26 Bhutan Standard Time. However, with the current block height of 839428 from https://blockexplorer.one/bitcoin/mainnet, the time to halving may be shortened.

 

Let’s delve deeper into the conclusion (as per the blockexplorer as of 16 April, 2024). The halving usually happens every four years or when the block height reaches 210,000 (from the erstwhile halving height). To be precise, whichever is shorter i.e., 210,000 or 4 years, the halving is bound to happen-to cap the circulation of BTC in the market.

 

With the halving scheduled to happen this year, 2024, and with the current block height of 839428, lets calculate the approximate date of the the next halving.

 

The current halving will happen when the block height reaches 840,000 (this is the fourth halving i.e., 210,000*4years).

Considering the fact that 144 blocks are being mined in 24 hours, lets’ find the difference of the current block and the block height of the halving-which is 840,000.

 

840,000-839428=572

 

Now dividing 572/144, we get ~3.972 which is approximately 4 days. Thus, as per the calculation, we could estimate the halving to happen on 20^th April, instead of 23^rd April, 2024.