bitcoin events, events, 2016, blockchain 2016, We have 10 more days to go for the new year to being. This year has been great for bitcoin and most of us. Hope you were one among them too. In one of our previous articles we discussed about the progress of bitcoin over 2015. While the bitcoin sector has had its share of ups and downs during the year, it has made a good overall progress. Now it is time to have a look at what might be in store for the digital currency in the coming year.
The adoption of bitcoin among individuals has been good in 2015, and we can expect the same thing to continue in the coming year as well. The development of products and services using blockchain technology has been on a full swing in the recent days and the potential of this technology has attracted lot of investments lately from various venture capitalists and fintech industry alike. As the year 2016 progresses, we can expect many of the much awaited products hit the market.
On the technical side, some of the major developments are slated to happen during 2016. Come 2016, it will be 8 years since bitcoin came into existence. It also means that the mining reward per block will be halved for a second time, right on schedule. Earlier rewards for block discovery was set at 50 bitcoins, which was halved to 25 in the year 2012. In 2016, the rewards will be further halved to 12.5 per block discovery. This may lead to further increase in value of bitcoin itself, to compensate for the demand. It also means that mining operations will undergo major overhaul, rendering lot of previous generation ASICs and miners obsolete.
The bitcoin network is already experiencing a considerable increase in transaction […]
