Halving

A halving is a programmed reduction — typically by 50% — in the rate at which new coins are issued to miners, built into the protocol rules of certain proof-of-work blockchains such as Bitcoin and Litecoin. Halvings occur at fixed block-height intervals and are publicly verifiable on-chain events, not market decisions.

Bitcoin's most recent halving reduced its block subsidy on 2024-04-20 (Block subsidy halves to 3.125 BTC).