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The Effect of Halvings on Bitcoin and The Miningverse | by Nova Miningverse | Coinmonks | Mar, 2023

Rewards are cut down to half periodically
  1. To control the rate of Bitcoin’s inflation: As more Bitcoins are mined, the rate of inflation decreases, making the currency more scarce and valuable over time. This is similar to how gold mining becomes more difficult as more gold is mined.
  2. To incentivize miners: The halvings also act as an incentive for miners to continue to support the network, as the reward for mining a block is reduced over time, the transaction fees associated with each block become more important as a source of income for miners.
  • Considering that Bitcoin itself is not only a cryptocurrency but a whole blockchain network, thousands of applications are running on it, needing so, an infrastructure of nodes and miners that will grant the needed potential to sustain the workload.
  • Nova Miningverse will not be running initially in the Bitcoin network, but together with our partnership with Stacks, who recently show the potential of the Bitcoin Network through the launch of their own NFT series, we pretend to do so in the short term.
  • If we consider that the ecosystem is continuously growing through Web3 apps applications and everything that Bitcoin got till now was just based on its intrinsic value, plus the increasing fees in the other Ethereum and other competitors, how high do you think the value will go once the next halving will come?

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