What is it?
Bitcoin is a decentralized digital currency. No company runs it, no government issues it. Transactions are validated by a global network of computers and recorded on a public ledger called the blockchain. The supply is hard-capped at 21 million coins.
Key facts
How it works, in four pieces
The halvings
Roughly every four years (every 210,000 blocks) the reward miners get for producing a block is cut in half. That's the schedule that takes Bitcoin from inflationary issuance to a fixed supply.
| Date | Block | New reward | Note |
|---|