Bitcoin mining secures the Bitcoin network, confirms transactions and releases new coins into the Bitcoin ecosystem. Here is a brief look at how it all works.
The Bitcoin halving is an event that happens approximately every four years, when the bitcoin reward miners earn for finding a new block is cut in half. This algorithm reduces Bitcoin's inflation rate and enforces its scarcity.
When all bitcoin have been mined, miner revenue will depend entirely on transaction fees. The cost of transaction fees and purchasing power of bitcoin will likely adjust higher to the lack of new supply.