QUESTION NO: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.

Let's first talk about the meaning of halving. It is a process in which the miner's rewards can be halved to avoid inflation and also keep the value of the certain Bitcoin from fluctuating.

How many times has Bitcoin been halved?

To this day there have been three halvings in bitcoins.

The 50 BTC received on January 3rd, 2009 was halved. The reward after the first halving was 25 BTC.

The first one was on November 28th, 2012. The block reward after that was 25 BTC.

The second one was on July 9th, 2016. The reward after that was 12.5 BTC.

The third and most recent halving was on May 11th, 2020.
It resulted in a block reward of 6.25 BTC.

When is the next one expected?
The Next expected havling is in 2024 where the block number will be 840,000 and the block reward is expected to be 3.125 BTC.

There will be another halving in 2028 which will have 1,050,000 number of blocks and the block reward will be 1.56625 BTC.

What is the current amount that Bitcoin miners receive?
The current amount that miners receive right now is 6.25 BTC for every 210,000 blocks that are mined and the total amount of new bitcoins would be 1,313,500 BTC.

Mention at least 2 cryptocurrencies that make or have made "halving"

1 Litecoin

It is a coin that is created in views to support Bitcoin and helping it as the currency under it. They are halving at every 840,000 blocks and the last one halved is August 5, 2019.

2 Zcash

It is said to be halved on November 18 by its update "Canopy".
This allows the currency to evolve and with the new code, users will be able to adapt to the requirements of the new update.

QUESTION NO:2

What are consensus mechanisms? How do Proof-of-Work and Proof-of-Staking differ?

Consensus Mechanism

It is a computer algorithm that is used in the blockchain Network to makes sure every transaction is perfect and validated. It approves all the transactions. And in the blockchain system, there are multiple types of mechanisms like Proof-of-Work, Proof-of-State, and many more.

Proof-of-Work mechanism

It is a type of mechanism which can generate and validate any old coin. It is used to mine first-generation coins. What it does is that it stores the data collected by the miners. It is store in a place called memopool and added to the network after being marked and is added to a generated block.

The miner who solves the puzzle or the complex mathematic equations must then breed and cultivate the reward they receive to a blockchain network. They can then use their computer strenght to mine and carry out its activities, thus the more the power of the computer the more influence over the mining activities.

Proof-of-State mechanism

This is slightly different from the mechanism mentioned above. It does not have the need for the miner to solve complex puzzles or mathematical equations nor does it need the miner to have a strong computer. All it needs is the validation of the validators (Oldest and the most coin holders).

Native currencies are commonly used in the PoS environment. To become a validator, the user must have sent money through a uniques transaction. And the validator will only stay in that position if they comply with all of the contract regulations. If not then their block will be lost.

Differences

Both mechanisms have many differences. Firstly, In PoW users need to solve complex puzzles and what not but PoS does not require that and only needs validators to have the oldest and the most amount of coins. Secondly, PoW requires more resources. It needs a strong computer and a lot of brainpower too, but PoS does not require any of that. From every aspect, PoS is a simple and easier process of getting coins but PoW is a difficult process with a lot of work needed.

QUESTION NO:3

Enter the Bitcoin Explorer and show the hash corresponding to the last transaction. Show screenshot.

For this question, I will use the website https://www.blockchain.com/explorer for searching the last transaction.

When going to the bitcoin side we can see both the last transaction and the newest block.

QUESTION NO:4

What is Altcoin Season? Are we in Altcoin Season? When was the last Altcoin Season? Name and show 2 Altcoin charts followed by their growth in the latest Season. Give reasons for your answers.

Altcoin Season

It is a Season where different coins gain buyers and their performance also increases bringing them to the top with famous coins such as Bitcoin. If 75% of the top 50 different coins have an increase in their performance in 90 days, it is considered Altcoin Season.

Are we in Altcoin Season?

As checked in the website and seen, it can be noted that it is not Altcoin Season at the moment. It shows that over the course of 90 days there have been only 53% of the top 50 different coins who have performed better than Bitcoin so it is not Altcoin Season.

When was the last Altcoin Season?

As shown on the website, the last Altcoin Season ended on June 20, 2021. During that time, over 80% of the different coins were performing better than Bitcoin. The season began on March 26 of 2021 and over 78% of the top 50 were performing better than Bitcoin.

Name and show 2 Altcoin charts followed by their growth in the latest Season. Give reasons for your answers.
Around 2018, people started demanding more currencies other than Bitcoin, so Altcoin Season became highly influential and wanted by both users and the management of the currencies as it was able to help skyrocket the value of many cryptocurrencies.

1 Dash

We can see the increase in the currency from before and after the Altcoin Season started.

2 EOS

Next, it can also be noted the growth of EOS from before and after the Altcoin season.

QUESTION 5

Make purchases from your verified account of your preferred exchange of at least 15 USD in a currency that is not in Coinmarket's top 25 (SBD, Tron , or steam are not allowed). Why did you choose this coin? What is the goal or purpose behind this project? Who are its founders/developers? Show ATH currency and current price. The reason for your answer. Show Screenshot.

Transaction

I chose the coin TRX

After choosing my coin and the amount I wanted to buy I confirmed my purchase and was done with it.

*Why did you choose this coin? *
I have chosen the coin TRX from Tron. The reason for choosing this is because I noted it increases with observation for a good amount of time. I noticed its very surprising uprise and decided to invest in it.

What is the goal or purpose behind this project?
I specifically chose this because It helps in developing technology for more casual use for people. It works faster and more efficiently than Ethereum. It gives a lot of entertainment to people in the tough times people faced because of the pandemic.

Who are its founders/developers?
It is founded by Justin Sun who is now the CEO of the offices in Singapore and San Fransisco. He is also the CEO of BitTorrent. It was originally founded in Asia but in August of 2020, they went global with it and were able to gain a lot of popularity.

Conclusion

I enjoyed reading and writing this homework very much. Thanks to the professor, I was able to learn so much about Altcoin Season and how it all works. In addition, I also learned about halving and the criteria of both Halving and Altcoin Seasons. It all helped increase the value of cryptocurrency and the importance of its knowledge. People should really learn it all before investing so they will not face any kind of loss.

Thank you professor @imagen.