In case you have been following bitcoin news during the last couple of months, then chances are that you may have heard about the upcoming halving. Well, a couple of hours ago, bitcoin has just undergone its second halving event, thus marking the evolution of bitcoin through all these years.
To put things better into perspective, people who mine bitcoin are rewarded with bitcoin in return for their hard work. Well, the bitcoin protocol is coded in such a way to reduce the supply of bitcoin by half every 210,000 blocks or so, in order to maintain the need-demand laws, but also to make sure that the total number of 21 million coins will be mined over a prolonged period of time, rather than in 3-4 years or even less. Another law set in place for this purpose of the 10-minutes interval between confirmed blocks. In case the current bitcoin protocol remains unaltered in this perspective, then the last bitcoin will likely be mined in the year of 2140.