Bitcoin halving, also called “halvening,” is a pre-programmed event in the Bitcoin network that occurs approximately every 210,000 blocks, or roughly every four years. During this event, the block reward that miners receive for validating transactions and adding a new block to the blockchain is reduced by 50%. For example, the reward dropped from 6.25 BTC to 3.125 BTC in the most recent halving in April 2024. This mechanism is encoded in Bitcoin’s protocol by its creator, Satoshi Nakamoto, to control the supply of new coins and mimic the scarcity of precious metals like gold.

Source: tastycrypto.com