Litecoin’s latest halving has become a central topic of discussion in the cryptocurrency market. With the upcoming halving event, miners will receive half the reward they used to for producing blocks.
This phenomenon is not new, as Bitcoin undergoes similar halvings every four years. However, the implications of the halving on Litecoin’s future bear significance as it could take miners out of business.
A Closer Look at Litecoin Halving
Understanding the Litecoin halving process is essential to grasp the core of the issue.
Litecoin miners receive a certain number of LTC when they produce a block. This reward, initiated at 50 LTC per block, undergoes a 50% reduction after every 840,000 blocks mined, approximately every four years.
The mining reward is poised to drop from 12.5 LTC to 6.25 LTC soon. This mechanism is designed to keep the supply of LTC in check, with a hard cap of 84 million LTC. Currently, nearly 87% of this total supply is already in circulation.
Litecoin’s price dynamics seem to sway with its halving events. BeInCrypto
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Author: Bary Rahma
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