1.) How many times has Bitcoin been "halved"? When is the next expected? What is the current amount that Bitcoin miners receive? Mention at least 2 cryptocurrencies that are or have halved.
Before answering The above question firstly I need establish what Bitcoin is all about in the Cryptocurrency world.
Bitcoin as a currency is a decentralised currency used in trading of assets which actually involves in buying and selling with with out the concept of the intermediary or Governmental regulation, therefore Bitcoin as Cryptocurrency act as a decentralised system which operates on it node own without a external regulation.
Bitcoin as a digital currency is unfolded and initiated by unrecognised individual my name Satoshi Nakamoto, therefore this initiation of this currency came up in recent past decade in the year 2009, this came to actualize it exteem when it rise in the market value in 2017, till date bitcoin as being the leading crycurrency of this days among the other Cryptocurrencies.
There is digital currency was build to operate on a blockchain which has a digitalized records of entries, as the name bitcoin implies it was actually referring to quotum block that has a vital and verse information on it's individual blocks containing transactions made with related informations like date, time, buyers and sellers, value and with a unique seed phrase made to identify any particular exchange.
Therefore the common relationship of Bitcoin and that of the halving is all about the mining of Bitcoin and the miners, hence Bitcoin halving is all about the rewards the miner receives (Block) and remover of subsidy from the blockchain for any mining done on the blockchain which also involves mining a new bitcoin which is known as the halving which actually take place periodically at a speculated pace.
As the first phase of question demands. Bitcoin halving is made to occurs in every 4 year interval which occurs to 210,000 blocks with 50% decreace in a block meanwhile since 2009 till date bitcoin halving has occured in three occasion, since it occurs in four years interval,
The first halving was record on 28, November 2012 with approximately 10,500,000 Bitcoin mined at 50 BTC, then the second phase occured on 9, July 2016 at 25 BTC and third occure early this year on 11, May 2024 at 12.5 BTC make it three times Bitcoin has been halved, meanwhile the next is expected to occure in the next four years to come which is 2024 at 6.25 BTC according to halving pace.
Therefore for any successful block added on the Main Bitcoin blockchain is expected that the miner will will receive at least 6.25 BTC for addition block, then as of August 2021 then minner are made to receive $300,000.25 which is equivalent to 6.25 BTC
Therefore the two types of cryptocurrency which has be halved are Ethereum and Zcash
2.) What are consensus mechanisms? How do Proof-of-Work and Proof-of-Staking differ?
Consensus mechanisms This is protocol of which the blockchain operate on in other to achieve a task at a point in time.
Consensus mechanism are internal regulatory principle known as protoccol which a blockchain run on in verifying blocks, meanwhile the consensus mechanisms runs in protoccol with aim of which the nodes and the block validator adhered to in creating a new block.
Therefore the consensus mechanism is actually mechanisms which runs on any functioning block or crytocurrency which propagate in it's functionality.
Therefore as regards to how do proof of work (PoW) and proof of staking (PoS) differs I will differeciate the both by their function, internal and external and what they are all about.
PROOF OF WORK (PoW)
Proof of work known as the the (PoW) this is the first ever blockchain consensus mechanism to run on a blockchain technology, this technology at first work on the Bitcoin blockchain and is a consensus mechanism that Bitcoin blockchain operates on at first and up till date.
Meanwhile this algorithm that operate on proof of work is aim to protect a Cryptocurrencies and as well to keep it secured. the concept of any central or intermediary body tracking the transaction done on blockchain.
The purpose of this proof of work to ensure a regulatory mechanism in minting or printing a new coins and as well double spending.
PROOF OF STAKE
This is categories of consensus mechanisms made for blockchains which operates on the proportion of block validators to that of the amount of a perticular Cryptocurrency in place
This concept implies that a block can be validated base on the amount currency a validator is having as stake as regard to the currency in stake as the name implies proof of stake.
These implies that the more Cryptocurrency in possession to the miner the more hashing strength he has in hashing and validating blocks in the blockchain.
Meanwhile this mechanism runs on the Cadano blockchain as the PoW runs on the Bitcoin blockchain as an example.
DIFFERENCE BETWEEN THE PoW AND PoS
PoW
Proof of work which is know with PoW is mined, here the users work out the mathematical problem by himself in order give out the result known as the solution. Meanwhile for this to work out, it actually takes real resources and materials and machines in order to have a solution to the mathematical problem. Meanwhile the proof stake algorithms uses the level of difficulties encountered to determine current status agreement of the blockchain as it is in Bitcoin blockchain.
WHILE
PoS
Proof of Stake is consensus algorithm which requires of accumulated cryptocurrencies and stakes for validation of blocks and it does not require alot of expenditure in order to run and work perfectively on it's blockchain.
3.) Enter the Bitcoin explorer and indicate the hash corresponding to the last transaction. Show Screenshot.
The first thing I did is to obtain the hash responsible for the transaction was to visit Link web address as it is shown in the beow screenshort.
Then I copied the last rescent hash and allow the transaction to get completed, then I now paste the hash on the search box and search, the below screenshot shows up showing the The previous hash and the hash responsible for the transaction as shown on the screenshot below.
4.) What is meant by Altcoin Season? Are we currently in Altcoin Season? When was the last Altcoin Season? Mention and show 2 charts of Altcoins followed by their growth in the most recent Season. Give reasons for your answer.
Altcoin season this is a period where by the alternative currencies or coins are taking the lead over the bigest leading currency known as the Bitcoin, meanwhile the "Alt" represent altnative which signifies another. Cryptocurrency apart from Bitcoin. The Altcoin season is said to take place when ever the alternative coin are making more devident and percentage increase than that of the leading crytocurrency (Bitcoin) as is show in the below screenshot.
Base on the the second phase of this question which asked whether we are on the AlT season of which my answer to that is YES with proof of the last 30 day check as shown on the below screenshot.
Therefore the last Alt season took place within December 2017 – January 2018 when bitcoin was found to loose form in leading other crytocurrencies. meanwhile the Alt currencies started losing form early january 2018, before taking the lead again from December 2020 till date.
Bitcoin is Cryptocurrency used in trading of including the buying and selling of asset. Meanwhile Bitcoin halving is a method which actually has an effects on market supply of the new currency there by reducing the subsidy attached to it, which also causes an increase in the market.
Meanwhile for Bitcoin as a crytocurrency to function well it demands to run on programe known as consensus mechanism for proper regulation of the blockchain and this function in two dimension either as proof of work (PoW) or as Proof of stake (PoS).
Due to all this effect all this can contribute to the Alt season which signifies a period, that the alternative currency are ahead of Bitcoin
Which is the first and bigest crytocurrency, meanwhile as it stand now we are currently of the Alt season.