Halving is the process of reducing miners’ rewards on the Litecoin network by half. As with Bitcoin, Litecoin halving is a deflationary element of the LTC ecosystem. It occurs every 840 000 blocks, approximately every 4 years. The process will continue until all LTC have been mined (84 000 000 LTC, estimated by 2140).
Time until the next Litecoin halving:
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What is the purpose of Litecoin halving?
Litecoin’s economic model includes a deflationary mechanism, as does its predecessor Bitcoin. With each halving, mining LTC becomes harder, coin issuance decreases and sellers exert less pressure on the asset’s price. Provided demand for the coins continues to increase, this mechanism guarantees a rise in LTC’s value over the long term.
The history of Litecoin (LTC)?
Litecoin is the second Bitcoin fork after Namecoin and differs only slightly from “digital gold,” as its software was based on Bitcoin’s code. The project was created by Charles Lee and positioned as an alternative to Bitcoin.
The open-source code was published on GitHub on 7 October 2011, and the network launched on 12 October 2011.
In April 2017, Litecoin’s code received the Segregated Witness (SegWit) update, designed to scale the network and reduce transaction fees without increasing block size.
In June 2022, the development team deployed a major Litecoin network update incorporating Mimblewimble and Taproot, protocols designed to improve scalability, efficiency and privacy.
Halving dates
| Halving | Date | Block | Reward |
|---|---|---|---|
| 0 | 12.10.2011 | 0 | 50 LTC |
| 1 | 25.08.2015 | 840 000 | 25 LTC |
| 2 | 05.08.2019 | 1 680 000 | 12.5 LTC |
| 3 | 02.08.2023 | 2 520 000 | 6.25 LTC |
| 4 | 30.07.2027 | 3 360 000 | 3.125 LTC |
| 5 | 2031 | 4 200 000 | 1.5625 |
| 6 | 2035 | 5 040 000 | 0.78125 |
