When the Bitcoin network first kicked off circa 2009, this reward was worth 50 Bitcoin, and the protocol dictates that this amount decreases by half every time 210,000 blocks have been mined, which occurs approximately every four years.

In crypto circles this is known as a “halving”. The last halving happened in May of 2020 and cut the block reward down to 6.25 bitcoin per block; current projections have the next halving coming up sometime around April or May of 2024, which will be here sooner than you think.

Why Does the Bitcoin Halving Matter? There are a few reasons why the Bitcoin halving is important.

The first is theoretical. When Satoshi Nakamoto mined Bitcoin’s genesis block, he famously included a headline from Britain’s The Times:

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”

Though he didn’t offer any explanation, this is but one of many pieces of evidence that Bitcoin was intended to act as a hedge against the malfeasance of money-printing central banks, whose endless inflation of fiat currency drives prices up and erodes the value of savings.

How is Bitcoin supposed to perform this function? This blog post isn’t the place for a deep exploration of monetary economics, but we can make a few high-level comments nevertheless.

Satoshi Nakamoto built the Bitcoin protocol to aggressively constrain the supply of Bitcoin over the long term. There will only ever be so much Bitcoin in existence, it’s released at a steady, predictable rate, and it’s issued in smaller and smaller amounts over time.

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Permissionless vs Permissioned Chains
Although most blockchains fit the above description, some so-called blockchains remove the focus from freedom, decentralization, and openness. As opposed to the permissionless vision of the original blockchains like Bitcoin, some blockchains are permissioned.


Permissioned chains are often seen as contrasting the foundational ethos of cryptocurrency because they restrict access to only a select group of participants, often enterprises and institutional users. For these networks, decisions are made centrally by the network’s pre-approved members. They lack the transparency inherent in their permissionless counterparts and have the power of enforcing censorship, which is against the principles of a free and open internet.


Permissionless chains, like Bitcoin, Ethereum, and Core, offer a truly open and decentralized platform. They offer equal access for everyone, irrespective of their background, affiliation, or location, allowing anyone to explore on-chain information, view the blockchain’s entire history, and participate in the network’s consensus. For Core specifically, any individual can build or launch a dapp, run a Validator, or stake their tokens to participate in governance. Transparency, anonymity, and decentralization are not elements to run from, but rather embrace as they enable global accessibility to a free and open internet.

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Aside from price (which is not necessarily reflective of a blockchain’s fundamental value), the picture may be no less worrisome. When the initial token-base is concentrated in the hands of a small group of insiders, decentralization can suffer at all levels, including design and direction. Regarding design, a blockchain’s effectiveness often depends on the makeup of the token-base. For blockchains running on proof of stake and similar consensus mechanisms (as many new chains do), network security and censorship-resistance rely on the good faith of token holders. Thus, token-base centralization places the entire chain at risk of being manipulated, a concern first outlined in Core Blockchain Origins. This means that the measure of a blockchain’s success may more likely be defined by price rather than development. Price and development can be linked, but at the end of the day, investors tend to want to convert tokens into fiat. True builders envision a future in which that transfer is completely unnecessary. When those who passively purchase rather than utilize and build are at the wheel, as Jack Dorsey famously tweeted, “It will never escape their incentives.” Nevertheless, there is both a role and a place for investor participation. Rather than being inherently bad, it is a two-fold question regarding both the order of operations and the relative weight of distribution to properly and healthily introduce them. In designing Core, the users of the network have been prioritized on both of these vectors. At the time of mainnet, there has been no public or private sales of CORE tokens to investors.

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A Dapp Store on Core:

Core users will benefit from DappRadar’s streamlined interface and powerful search capabilities, making it easier to discover new dapps that suit their needs. By filtering data and dApp product categories, users can make informed decisions with access to live metrics, ensuring they engage with the most active and reliable dApps on Core.

Developers also benefit from this enhanced user experience as DappRadar has built a substantial audience of trusting followers. In addition, DappRadar’s dApp data finds its way to partners through white label offerings and their API service. Now, developers on Core have the opportunity to showcase their projects to DappRadar’s broader audience.

A Platform for Visibility and Growth: In addition to aggregating audiences for Core dApps, developers can also enjoy significantly enhanced visibility, allowing them to track their dApp’s performance, gather user feedback, and fine-tune their applications based on real-world usage and analytics.

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To get new users unstuck when bridging to Core, we’ve created the CORE Faucet, which is now live! Now, the Core Bridge is incredibly easy to use. Moving forward, for anyone bridging assets onto the Core blockchain, the CORE Faucet will seamlessly and automatically deposit a small amount of CORE into their wallet, like magic, which is enough to cover the gas fee needed for transfers, or swaps. To use the CORE Faucet, simply connect your wallet to the Core Bridge, bridge over USDT, and the CORE from the faucet will arrive in your wallet. Note that this amount is small and is only meant to make the first transaction after a wallet’s first bridge process as easy and accessible as possible.

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Thanks to its high performance and reliability, Ankr RPC enjoys a sterling reputation in the industry. What are the Ankr RPC Connections for Core? The Ankr RPC connections perform a handful of functions, which include (but are not limited to): Ankr’s Core-specific RPCs make it easy for crypto wallets, command-line interfaces, and dApps to set up connections to the Core blockchain. In essence, they act as a relayer transmitting information between Core nodes and various kinds of users, so that those users can do things like transact, tabulate the balance of a wallet, find who controls a given asset, and more. Core RPC endpoints can be thought of as a portal allowing developers to interface directly with the Core network, with none of the difficulty of creating and maintaining a bespoke Core node.

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These boosts to miner rewards are highly beneficial for the security of the Bitcoin network if they are sustained. However, Ordinals NFTs and BRC-20 meme coins are unlikely candidates for sustainable income sources that miners need, as these new technologies may succumb to boom-bust dynamics.

Prior to the current rally, mining organizations were suffering under price volatility, fierce competition for computational power, and soaring interest rates. Unfortunately, these forces (or others with similar effects) are likely to strike again at some point in the future. For miners to maximally sustain their business, they would benefit from additional revenue streams.

Core’s Relationship with Bitcoin

Miners are in a unique position to offer a type of “Decentralization as a Service,” which benefits Core and other external systems seeking to leverage Bitcoin’s governance without the constraints of directly building on top of the protocol. Specific to Core, miners are able to scale Bitcoin’s governance onto Core without affecting or endangering the Bitcoin network’s utility.

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When transactions are made on the Bitcoin Network, they are verified by nodes (to avoid double-spending) and grouped into a block. The proof of work algorithm then applies a hashing function to the block. Hashing takes an input of letters and numbers and irreversibly encrypts them into an output of fixed length using a mathematical formula. The output is publicly visible, but the input is hidden. Miners then race to discover the input to generate a target output associated with the hashing output. The miner that first succeeds in solving this puzzle gets to add that block to Bitcoin’s blockchain. Since it is far cheaper to verify the solution to the hashing algorithm than to be the first to solve it, other nodes can easily keep miners in check. Thus, only truthful miners earn the Bitcoin-denominated reward from newly minted coins or transaction fees.

In order to power the hardware used to successfully solve hashing algorithms to mine blocks, miners must expend high amounts of energy known as hashpower. The provable use of this power is the Proof of Work needed to ensure skin in the game when creating the blockchain ledger. Committing fraudulent transactions is just a waste of highly valuable energy as solving the mathematical, proof-of-work puzzle yields only expenses. For a more detailed explanation of Proof of Work, please read Satoshi Nakamoto’s original


Bitcoin White Paper.

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