In its LinkedIn newsletter, “The SOFTSWISS Special”, SOFTSWISS, a global technology expert with over 15 years of iGaming experience, investigates the impact of the Bitcoin halving on the market.
The recent historic moment of Bitcoin’s halving occurred on April 19, 2024. SOFTSWISS, a pioneer in crypto-friendly iGaming software, shares its insights and predictions on how this event could shape the future of iGaming, shedding light on possible opportunities and challenges for sector stakeholders.
What is Bitcoin Halving?
Thus, the Bitcoin halving is a scheduled event that occurs approximately every four years or every 210,000 blocks.
During this event, the reward for mining and verifying new blocks is reduced by 50%. So, this makes miners only earn half the number of BTC per block mined.
Since its launch in 2009, Bitcoin’s mining reward has been halved four times, occurring in 2012, 2016, 2020, and 2024. The recent halving in April lowered the reward to 3,125 BTC per block.
But these events are crucial to Bitcoin’s scarcity and inflation control. This ensures that the total supply never exceeds 21 million coins and aligns with its deflationary principles.
Historically, each halving event has resulted in an increase in the price of Bitcoin. This happens because of decreased supply and increased scarcity, although other market factors have also influenced these results.
Exploring the Impact of Bitcoin Halving on the iGaming Sector
Therefore, to provide an in-depth analysis of the impact of the Bitcoin halving on iGaming, SOFTSWISS invited Bradley Peak, blockchain expert and tokenomics consultant, to share his predictions.
- The stakes rise. The halving is expected to lead to an increase in the value of Bitcoin. So, if the trend of impressive price increases persists, Bitcoin-friendly iGaming brands could have a positive impact.
- Increased adoption of cryptography. Implementing cryptocurrency-compatible models has the potential to increase player trust and transparency in iGaming. Furthermore, it could rejuvenate unique gaming experiences such as provably fair games and decentralized casinos.
- Improvement of regulatory structures. Bitcoin’s recent halving could lead regulators to re-evaluate their stance on cryptocurrency gambling. Therefore, this could lead to new regulations that ensure fairness, responsible gaming and anti-money laundering measures in the cryptocurrency-driven iGaming sector.
Blockchain expert Bradley Peak comments on the recent changes: “Any transformation will have its challenges. But it’s important to adapt, invest in learning, employee development, integrate crypto processing, and ensure your platform remains secure throughout the process .”
Explore the influence of the 2024 Bitcoin Halving on the iGaming sector in the 4th edition of The SOFTSWISS Special newsletter on LinkedIn.