Litecoin is a decentralized, open-source, P2P, & fully global payment network where transactions are conducted in LTC units.
About Litecoin
When the reward for mining Litecoin transactions is cut in half, it’s known as the “Litecoin halving."This year, the event is happening on August 2, 2023.
Litecoin Halving
When the Litecoin network first went live in 2011, miners were paid 50 LTC for each block they mined. In 2015, it was cut to 25 LTC.In 2019, it further slashed to 12.5 LTC.In 2023, it will finally reduced to 6.25 LTC.
The goal of the LTC halving is to control the rate of Litecoin inflation and to reduce the token supply’s availability, increasing its value over time.
Goal of Litecoin Halving
What will be the impact of Halving on Litecoin's prices?Will it skyrocket? Or nothing will change?