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At its core, Bitcoin operates on a decentralized blockchain, comprising blocks filled with transaction data that miners create. These miners employ specialized hardware to solve complex mathematical problems, earning the right to append a new block to the chain, which includes a specific reward in Bitcoin (BTC). Initially set at 50 BTC per block in 2009, this reward diminishes every four years through a process known as “halving.” The current reward stands at 3.125 BTC per block, which will continue to diminish until the last Bitcoin is mined around 2140.