Post
Topic
Board Bitcoin Discussion
Re: Bitcoin halving countdown
by
Husna QA
on 05/06/2023, 06:54:40 UTC
I have always had a curiosity about how bitcoin halving services calculate the countdown. For example, you have NiceHash that says halving will happen on May 2 and websites like this that have a quite different date.

Why this difference if halving happens after a fixed number of blocks?
Because the period between successfully mined Bitcoin blocks is not always the same; Therefore, it is natural that there will be differences in the predictions* of the halving times displayed by the two websites.

* You can see that at https://www.nicehash.com/ it says 'ETA', while at https://bitcoinhalving.info/ it says 'expected'

Because the number of bitcoins created each time a user discovers a new block - the block reward - is halved based on a fixed interval of blocks, and the time it takes on average to discover a block can vary based on mining power and the network difficulty, the exact time when the block reward is halved can vary as well. Consequently, the time the last Bitcoin will be created will also vary, and is subject to speculation based on assumptions.