Litecoin, a popular cryptocurrency, has executed its block reward halving, a scheduled event that occurs roughly every four years, reducing the reward for miners from 12.5 LTC to 6.25 LTC. The last halving event was in August 2019.

Every four years, or after every 840,000 blocks mined, Litecoin’s code calls for the miner’s reward to be cut in half, adding to the diffculty thus, in theory, making LTC more valuable. This process is set to continue until around the year 2142, effectively capping the total supply of Litecoin at 84,000,000 LTC.

Litecoin’s self-imposed limit on supply aims to emulate the scarcity of commodities like gold, an approach contrasting with traditional fiar currencies where governments can freely print money, potentially causing inflation.

LITECOIN HAS SUCCESSFULLY HALVED ITS BLOCK REWARD!

⚡ $LTC ⚡ pic.twitter.com/iemCnkPsdu

— Litecoin (@litecoin) August 2, 2023

In the run-up to previous halving events, Litecoin’s price has exhibited noticeable movement, reaching peaks before the event and settling

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Author: Editorial Team

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