Halving Blocktime

Bitcoin block time refers to the number of blocks found in the Bitcoin network. To ensure that approximately one block is found every 10 minutes, the network adjusts the so-called difficulty every 2016 blocks. This difficulty determines how likely it is for miners to find a new block.

Since the Bitcoin blockchain is a sequence of Bitcoin blocks, it can be used to describe a history and document historical events and determine when they occurred in the past.

What is Halving Block Time?

Halving block time is a conversion method for Bitcoin block time based on halvings. A halving occurs every 210,000 blocks. To calculate the halving block time, we proceed as follows:

1. We divide the original block time by 210,000 and round down the result. This gives us the number of past halvings. For example: 714,778 / 210,000 ≈ 3.
2. We multiply the number of past halvings by 210,000 and subtract the result from the original block time. For example: 714,778 – (3 * 210,000) = 84,778.
3. The first three digits (084) are swapped with the last two digits (778) to get the halving block time. The current halving period (003) is added at the end. So, the final result is: 778.084.003.

Why Halving Block Time?

The traditional block time is a long and not only hard to remember but also difficult to imagine time, as it is simply a large number. Representing this time differently, like the halving block time, offers a compressed and easier-to-remember time since there are fewer digits that can change frequently. It also more intuitively represents an important event in the Bitcoin world, namely, the halving periods.

This allows for quicker comprehension of the information and simplifies communication about block time in connection with halvings.

Important!

It is essential to note that the halving block time is a devised method and does not represent an official depiction of Bitcoin block time. It was developed to improve readability regarding halvings and provide a more compact representation.