According to Blockchain.com (capture below), it was on April 1 that the 19 millionth bitcoin was issued – or mined – on the Bitcoin blockchain protocol. This blockchain is the decentralized ledger of encrypted – but publicly verifiable – transactions for the most famous cryptocurrency.
With 19 million bitcoins now mined, this means that around 90% of the total bitcoins that can be created have been reached, knowing that the first bitcoin was mined in 2009 and that the 18 million mark was reached in 2019.
However, the 21 millionth and final bitcoin should not be mined before around 2140. This is due to the fact that approximately every four years there is a so-called halving event in which the Bitcoin miners’ reward for a new block on the blockchain is halved.
Decreasing creation of bitcoins over time
Three halving events have already taken place and the latest was in May 2020. It increased the reward to 6.25 bitcoins. For the fourth halving in 2022, this will be a reward of 3.125 bitcoins for miners, then 1.5625 new bitcoins in 2028.
The maximum of 21 million bitcoins in circulation (so around 2140) is specific to this cryptocurrency and would ultimately respond to a deflationary monetary system model.
By evoking the 19 million bitcoins mined, Axios points out, however, that the actual supply is not necessarily in line with perhaps up to 20% of the bitcoins which according to a report have been lost for various reasons, such as for example having become impossible to access wallets. .
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