Halving, in the context of cryptocurrency, refers to a pre-programmed event that occurs on some blockchain networks, where the reward for mining new blocks is reduced by half. This event takes place at regular intervals, often every four years or so, and is designed to control the inflation of the cryptocurrency and ensure its scarcity over time. In simple terms, halving means that miners will receive fewer rewards for their mining efforts, which can affect the supply and demand dynamics of the cryptocurrency, potentially leading to a rise in its price.