Blockchain: What is Bitcoin halving?
Definition Every four years, the number of bitcoins awarded to miners is halved until all 21 million bitcoins are virtually mined (likely around the year 2140). The halving mechanism helps maintain a scarcity of bitcoin and makes it a hedge against inflation. Despite being a digital currency, Bitcoin cannot be created infinitely. Verifiable scarcity is crucial to its value proposition. Two key concepts regarding scarcity are fundamental to the Bitcoin protocol. Firstly, the number of bitcoins will not exceed 21 million. (By the end of 2020, less than 2.5 million bitcoins remained to be "mined" virtually). Secondly, the number of new bitcoins added to the network will be halved every four years. This latter concept is known as halving. At the beginning of 2020, every 10 minutes, 12.5 new bitcoins were added to the network through virtual "mining". In May, this number halved to 6.25. In 2024, it will decrease to about 3.125, and this process will continue until all 21 million bitcoins are mined (which is estimated to occur around 2140). Around April 16, 2024, there will be another Bitcoin halving, as a result of which the mining reward will drop to 3,125 bitcoin per block. Why is Bitcoin halving important? By emitting fewer bitcoins
Mateico Auctions: Buy and Sell in Traditional and NFT Auctions.
Art has always been a valuable and influential aspect of human culture. Since ancient times, artists have created works that inspire, move, and evoke emotions. Traditional art auctions have been with us for many centuries and are an integral part of the art market. In this article, we will explore the history of major art auctions, the development of auctions in the internet age, and the emergence of NFT auctions. Most importantly, we will provide a brief overview of the auctions we offer on the Mateico platform. Are you curious? Let's dive in. History of Traditional Art Auctions. The existence of traditional art auctions can be traced back to ancient times. Auctions were held in ancient Greece and Rome, where various items, including sculptures and paintings, were sold. However, the true flourishing of art auctions occurred in Europe during the Renaissance period. Auctions became popular in cities like Venice, Florence, and Antwerp, where traders, collectors, and artists had the opportunity to buy and sell works of art. In the 18th and 19th centuries, traditional art auctions became increasingly popular, especially in England and France. This period saw the establishment of renowned auction houses such as Christie's and Sotheby's. These institutions became symbols