In roughly 202 days, the cryptocurrency community Litecoin (LTC) will expertise a block reward halving on or round Aug. 3, 2023. Litecoin would be the first main proof-of-work (PoW) blockchain to see a reward discount earlier than Bitcoin’s upcoming halving, which is predicted to happen 203 days from now.

Litecoin Halving Set to Happen on or Round Aug. 3, 2023

Litecoin, the 14th-largest cryptocurrency as we speak, is making ready to expertise a block reward halving in 202 days. It will likely be the primary main proof-of-work (PoW) cryptocurrency to have a reward halving, apart from the upcoming discount scheduled to occur in 158 days for Sprint. Nevertheless, Sprint’s discount is totally different than a halving because the reward shall be decreased from 2.763 Sprint to 2.566 Sprint. Like Bitcoin, Litecoin’s block halving cuts the reward in half (by 50%) and it’ll drop from 12.5 LTC to six.25 LTC.

Estimated Sprint discount countdown and countdowns for LTC’s and BCH’s reward halvings in 2023. After DASH, LTC, and BCH, the following halvings will stem from BSV, BTC, ETC, and ZEC.

Whereas litecoin (LTC) holds the 14th-largest market capitalization as we speak, it was once a top-ten cryptocurrency contender within the early days of the crypto market. LTC’s community has many variations from Bitcoin (BTC) as there are extra cash in circulation — presently greater than 72 million LTC in circulation. Nevertheless, LTC is nearing its most provide of 84 million. Bitcoin’s block time is often round 10 minutes per block, however LTC blocks are a lot quicker at 2.5 minutes per block.

Two-week market statistics present that litecoin (LTC) has gained 29% in opposition to the U.S. greenback, however LTC is down 79% from the cryptocurrency’s all-time excessive. LTC reached an all-time excessive of round $410 per unit over a 12 months in the past on Might 10, 2021. Along with the distinction in provide between LTC and Bitcoin (BTC), Litecoin’s proof-of-work algorithm, Scrypt, is totally different from SHA-256. The upcoming LTC halving shall be Litecoin’s third block reward discount since its inception.

LTC skilled its first halving on Aug. 25, 2015, and this halving decreased the block reward for miners from 50 LTC to 25 LTC. LTC block halvings happen each 840,000 blocks, or 4 years. The second Litecoin block reward halving occurred on Aug. 5, 2019. This specific halving decreased the block reward for miners from 25 LTC to 12.5 LTC, the present reward degree for Litecoin miners as we speak.

Along with Sprint and Litecoin, the following three blockchains that may see block reward halvings are Bitcoin Money (BCH) in 450 days, Bitcoin SV (BSV) in 455 days, and Bitcoin (BTC) in 474 days. Ethereum Traditional is predicted to see a block discount just like Sprint’s in 568 days. And, Zcash (ZEC) will see a halving in 677 days. The ZEC block reward halving will see the subsidy drop from 3.125 ZEC to 1.5625 after the halving happens on or round Nov. 20, 2024.

What do you assume would be the impression of the upcoming Litecoin halving on its mining ecosystem and worth? Go away your ideas within the feedback under.

Jamie Redman

Jamie Redman is the Information Lead at Information and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Information in regards to the disruptive protocols rising as we speak.

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