- The third Litecoin halving event in history will begin on August 3, 2023. The Litecoin halving is a fixed event every 4 years, bringing about the notable change of reducing the block reward for miners from 12.5 LTC to 6.25 LTC.
- Meanwhile, halving is a term that refers to an important tokenomics mechanism of projects using Proof-of-Work like Bitcoin or Litecoin. Accordingly, in order to reduce the rate of new coin generation through block creation/mining, the BTC/LTC reward for each block will be gradually reduced after each halving. By 2027, the reward per block will be split down to 3,125 LTC.
- The halving event will have a big impact on the revenue of miners and cryptocurrency mining companies. Since the profits of miners will be reduced by 50% while the difficulty of the mining process remains the same, the Litecoin network in the near future is likely to see a decrease in the number of miners.
- Overall, Litecoin's halving will not have as much of an impact on the entire crypto industry as Bitcoin's halving. However, for investors holding LTC, this will be an important event that they need to monitor and update.
- Is this buying rumors selling news? Will people sell or buy more LTC at this point?
Wednesday, August 2, 2023
What to know before Litecoin (LTC) halving 2023
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