Bitcoin Halving Sparks Surge in Transaction Fees

Bitcoin Halving Event Marks a Major Shift in Cryptocurrency Economics

Early Saturday, the Bitcoin network underwent its much-anticipated fourth halving event, a radical change that has significantly altered the economic landscape of the blockchain. Occurring every four years, these halvings slash the reward miners receive for creating new bitcoins by half. This year's adjustment took place at precisely 00:09 UTC, coinciding with the addition of the 840,000th block to the Bitcoin blockchain.