In about 202 days, the Litecoin cryptocurrency network (LTC) will experience a block reward halving around August 3, 2023. Litecoin will be the first major proof-of-work (PoW) blockchain to see a reward halving before the next halving of Bitcoin, which is expected to occur within 203 days. .
Litecoin halving will occur around August 3, 2023
Litecointhe 14th largest cryptocurrency today, it is getting ready to experiment a block reward that halves in 202 days. It will be the first major Proof-of-Work (PoW) cryptocurrency to have a halving reward, in addition to the next scheduled reduction for Dash in 158 days. However, the Dash reduction is different from the halving in that the reward will be reduced from 2,763 Dash to 2,566 Dash. Like Bitcoin, Litecoin’s block halving cuts the reward in half (by 50%) and will drop from 12.5 LTC at 6.25 LTC.
Time Litecoin (LTC) It has the 14th largest market capitalization today, it used to be one of the top ten cryptocurrency contenders in the early days of the cryptocurrency market. LTCThe network has many differences with Bitcoin (BTC) as there are more coins in circulation, currently more than 72 million LTC On circulation. Nevertheless, LTC is approaching its maximum offer of 84 million. Bitcoin block time is usually around 10 minutes per block, but LTC blocks are much faster at 2.5 minutes per block.
🔥Litecoin 2W Halving Cycle Chart🔥
Something to give us some bullish vibes for the near-term future and some really strong optimism going into June 2024.
💡 The next Litecoin halving will be on August 3, 2023 pic.twitter.com/8tzlCUQICp
— Zen ☮️ (@WiseAnalyze) January 8, 2023
Two-week market statistics show that Litecoin (LTC) has gained 29% against the US dollar, but LTC it is down 79% from the cryptocurrency’s all-time high. LTC hit an all-time high of around $410 per unit over a year ago on May 10, 2021. In addition to the difference in supply between LTC and bitcoin (BTC), Litecoin’s proof-of-work algorithm, Scrypt, is different from SHA-256. The next LTC The halving will be the reduction of the reward of the third block of Litecoin since its creation.
LTC experienced its first halving on August 25, 2015, and this halving reduced the block reward for miners from 50 LTC to 25 LTC. LTC block halvings occur every 840,000 blocks, or four years. The second Litecoin block reward halving occurred on August 5, 2019. This particular halving reduced the block reward for miners from 25 LTC at 12.5 LTCthe current reward level for Litecoin miners today.
Besides Dash and Litecoin, the next three blockchains to see the block reward halving are Bitcoin Cash (BCH) in 450 days, Bitcoin SV (BSV) in 455 days, and Bitcoin (BTC) in 474 days. Ethereum Classic is expected to see a block reduction similar to that of Dash in 568 days. And, Zcash (ZEC) will see a halving in 677 days. The ZEC block reward halving will cause the subsidy to drop from 3.125 ZEC to 1.5625 after the halving occurs around November 20, 2024.
What do you think the impact of the upcoming Litecoin halving will be on its mining ecosystem and price? Leave your thoughts in the comments below.
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