Summary of news on ‘Bitcoin rewards halve for virtual cash money miners’ Source: BBC The financial rewards for being involved with the Bitcoin virtual currency have been halved Now, the leading team of “miners” who verify a chunk of global transactions will receive only 12.5 bitcoins The halving of the reward is scheduled to take place every four years to limit bitcoin inflation Bitcoin miners are essential to the operation of the virtual currency because they collaborate to maintain the central record of transactions known as the blockchain Reuters reports one company, Sweden’s KnCMiner, filed for bankruptcy in May, citing the losses it would suffer when the reward halving took place
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