What is a Handshake block halving event?

Handshake, similarly to Bitcoin, is halving block reward every 170,000 blocks. Because one block is generated approximately every 10 minutes, the halving happens approximately every 1180 days or 3.23 years.

Handshake's initial block reward was 2000 HNS, the current block reward is 1000 HNS and the new block reward will be 500 HNS. 

The previous Handshake halving date was on the 28th of April 2023 and this will be the 2nd halving of Handshake.

Why was this done?

Handshake uses a combination of a maxed-out total supply of 2,040,000,000 HNS and the halving as a strategic measure to manage inflation and elevate scarcity, safeguarding its long-term sustainability and intrinsic value. This systematic reduction in rewards is aligned with economic principles, illustrating Handshake's dedication to a controlled supply approach for stability and enduring value in the cryptocurrency market.