*approximate, based on average block time of 2 minutes 30 seconds
A halving is a regular event that occurs in many cryptocurrencies. When a halving event occurs, the block rewards that miners receive are halved. Initially, Vertcoin had a block reward of 50 VTC for each block mined. This block reward is to incentivise people to secure the network by mining. Vertcoin has a halving event every 840,000 blocks (roughly every 4 years), where this block reward halves to reduce the rate of inflation. Eventually after many halvings, there will be no new coins as the circulating supply will reach the fixed supply of 84,000,000 VTC. Once this happens, Vertcoin will no longer be inflationary.
If you are a holder of the coin, you and your existing coins will not be affected. If you are a miner, you may notice that your rewards earned are lower than usual. This usually eventually balances itself, as some miners will leave due to the lower profitability, causing the network difficulty to lower; this could mean it is easier for remaining miners to gain a larger relative portion of the halved block reward. After some time, mining should return to a new normal.