In approximately 202 days, the cryptocurrency network Litecoin (LTC) will have a block reward halving on or around August 3, 2023. Litecoin will be the first major proof-of-work (PoW) blockchain to have its rewards slashed before the expected Bitcoin halving. Occurs 203 days from now.
Litecoin halving will occur on or around August 3, 2023
Today’s 14th largest cryptocurrency, Litecoin,are preparing to experience block rewards halving in 202 days. This will be the first major Proof of Work (PoW) cryptocurrency to halve rewards, other than Dash’s planned reduction in 158 days. However, Dash reduction is different from Halving as the reward is reduced from 2.763 Dash to 2.566 Dash. Similar to Bitcoin, Litecoin’s block halving cuts rewards in half (50%), dropping from 12.5 LTC to 6.25 LTC.
Litecoin (LTC) currently holds the 14th largest market capitalization, but in the early days of the cryptocurrency market was a top 10 cryptocurrency candidate. The network of LTChas many differences from Bitcoin (BTC). This is because there are many coins in circulation. There are currently 72 million LTC in circulation. However,LTC is approaching its maximum supply of 84 million. Bitcoin block times are typically around 10 minutes per block, whileLTC blocks are much faster at 2.5 minutes per block.
🔥Litecoin Halving Cycle 2W chart🔥
Giving bullish vibes for the near-term future and real strong bullishness starting June 2024.
💡 Next Litecoin Halving August 3, 2023 pic.twitter.com/8tzlCUQICp
— Zen ☮️ (@WiseAnalyze) January 2023 8th
Two-week market statistics showLitecoin (LTC) rose 29% against the US dollar, whileLTC is down 79% from the cryptocurrency’s all-time high. LTC hit an all-time high of about $410 per unit on May 10, 2021, over a year ago. LTC and Bitcoin (in addition to the supply difference ofBTC), Litecoin’s proof-of-work algorithm, Scrypt, differs from SHA-256. The upcoming LTC halving will mark the third block reward reduction since Litecoin’s inception.
LTC experienced its first halving on August 25, 2015, which reduced miner block rewards from 50 LTC to 25 Decreased to LTC {98. } . LTC block halving occurs every 840,000 blocks, or 4 years. The second Litecoin block reward halving occurred on August 5, 2019. This particular halving reduced the miner’s block reward from 25 LTC to 12.5 LTC. This is the current reward level of his Litecoin miner at the moment.
In addition to Dash and Litecoin, the next three blockchains with block reward halving will be Bitcoin Cash (BCH), Bitcoin SV (BSV). 455 days and 474 days for Bitcoin (BTC). Ethereum Classic is expected to see a similar block reduction to Dash in 568 days. And Zcash (ZEC) halves in 677 days. The ZEC block reward halving will drop the subsidy from 3.125 ZEC to 1.5625 after the halving occurs on or around November 20, 2024.
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