COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Historic Day for the Giant Altcoin! Countdown Begins! Set Your Clocks!
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Litecoin (LTC) > Historic Day for the Giant Altcoin! Countdown Begins! Set Your Clocks!
Litecoin (LTC)

Historic Day for the Giant Altcoin! Countdown Begins! Set Your Clocks!

In Brief

  • Charlie Lee, the creator of Litecoin (LTC), drew inspiration from Bitcoin (BTC) and integrated the fundamental features of Blockchain, including the process of halving the block reward, into his own cryptocurrency project. The block reward halving represents a programmed 50% decrease in the issuance rate of a cryptocurrency, designed to occur every four years. Litecoin’s […]
COINTURK NEWS
COINTURK NEWS 2 years ago
Share
SHARE

Charlie Lee, the creator of Litecoin (LTC), drew inspiration from Bitcoin (BTC) and integrated the fundamental features of Blockchain, including the process of halving the block reward, into his own cryptocurrency project. The block reward halving represents a programmed 50% decrease in the issuance rate of a cryptocurrency, designed to occur every four years. Litecoin’s Blockchain is currently preparing for its third block reward halving, which is expected to take place today.

Contents
Hours Away from Litecoin’s Major Block Reward HalvingImpact of Block Reward Halving on LTC Price

Hours Away from Litecoin’s Major Block Reward Halving

According to data provided by Litecoinblockhalf.com, the third block reward halving of Litecoin, which has been in circulation since 2011, will occur around 18:52 today. Block reward halvings in the Litecoin Blockchain take place every 840,000th transaction block, and the average time to create a block is 2.5 minutes. With the third block reward halving, the block reward in the Litecoin Blockchain, currently at 12.5 LTC, will decrease to 6.25 LTC, aligning it with the block reward in the Bitcoin Blockchain.

Speaking in a recent Twitter Spaces, Lee stated that block reward halvings aim to encourage the mass adoption of a cryptocurrency without compromising network security. Like Bitcoin, Litecoin also utilizes a Proof of Work (PoW) consensus mechanism, relying on “miners” who use computational resources to process transactions and secure the network. This means that these miners are rewarded with LTC, which is subject to variable transaction fees and undergoes a 50% reduction approximately every four years.

The long-term plan for Litecoin involves gradually shifting the block reward payments to miners primarily through transaction fees. Lee stated, “The idea is that enough usage on the chain will create enough transaction fees, which will be sufficient to continue to pay miners to secure the network.”

However, the main challenge lies in motivating miners while gradually reducing payments. According to Lee, one potential outcome is that as fewer new cryptocurrencies are produced and the growth rate in supply slows down, the price will increase. Lee said, “Price is determined by supply and demand. If the supply side decreases by half and the demand remains the same, then the price should increase.”

Impact of Block Reward Halving on LTC Price

Addressing the impact of block reward halving on LTC price, Lee emphasized the significance of market reaction, stating, “Sometimes it doesn’t have much impact. Everything depends on how the market will react to the block reward halving.”

Since the beginning of the block reward halving year, the price of Litecoin has increased by 33%, and market analysts do not expect significant upward movements in the short to medium term following today’s block reward halving.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Bitcoin Holds Its Ground as SEC Keeps Crypto Community in Suspense

Market Movements Highlight Litecoin’s Potential for Growth

Litecoin Surges as Market Corrects: Bright Prospects Ahead

Canary Capital’s Litecoin ETF Gains Momentum with DTCC Listing

Litecoin Stands Out as Other Cryptos Struggle in February 2025

COINTURK NEWS 2 August, 2023 - 10:45 am 2 August, 2023 - 10:45 am
Share This Article
Facebook Twitter
Share
Previous Article Ripple Lawsuit Update: Ripple Chief Legal Officer Clarifies Terra Case
Next Article Over $90 Billion Claim for Binance!
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Binance Spurs a Twist as Doodles Token Value Dips
Binance
ARK Invest Predicts Massive Bitcoin Rise by 2030 with Compelling Insights
Bitcoin (BTC)
Coinbase Launches Round-the-Clock Bitcoin Futures in the US
Cryptocurrency News
Goldman Sachs Embraces Cryptocurrency with New Investments
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?