The Litecoin halving occasion has been accomplished, with block rewards now halved to six.25 Litecoin per block.
On Aug. 2, the Litecoin blockchain went through its automated halving procedure at block 2,520,000. Litcoin (LTC) miners are actually getting half the rewards, and the clock has been reset for the subsequent halving in roughly 4 years’ time.
Litecoin founder Charlie Lee commented on the discrepancies between the totally different halving countdown timers, suggesting that the NiceHash one was probably the most correct. Nevertheless, all of them agreed on an Aug. 2 date.
That is humorous. I googled “Litecoin Block Halving Countdown” and checked the primary 4 hits. The ETA for the halving is all around the map!
From my fast calculation, I consider NiceHash’s countdown is probably the most correct. I count on the halving to happen in a couple of 1 day, 2 hours, and 30… pic.twitter.com/7lvOKCtiOh
— Charlie Lee Ⓜ️️ (@SatoshiLite) August 1, 2023
Furthermore, LTC costs have been trending down since early July, after they topped $110 for the primary time since April 2022. The silver to Bitcoin’s gold is at present hovering across the $92 stage, the place it was this time a fortnight in the past.
Litecoin’s third HALVING is simply hours away. The block reward will robotically modify from 12.5 to six.25 $LTC – thus making Litecoin a predictable financial provide and a deflationary forex.
Litecoin ⚡ Sound Cash. pic.twitter.com/9h1rh4f0vi
— Litecoin (@litecoin) August 1, 2023
Talking on the adoption of Litecoin as a fee methodology, BitPay CEO Stephen Pair instructed Cointelegraph that Litecoin and Bitcoin Lightning payments had their finest months in current historical past on the worldwide payments platform.
Associated: Litecoin price poised for 700% gains vs. Bitcoin, says Charlie Lee
As of June, LTC surpassed Bitcoin (BTC) as the crypto of alternative for payments on BitPay, accounting for 35% of transactions. BitPay claims to have processed 57,949 crypto-related whole transactions over the previous 30 days.
Whereas North America, Europe and the UK stay the agency’s largest markets, Pair stated there was notable progress for crypto payments in Africa.
“We’re seeing notable progress in African-based BitPay customers, with extra retailers and spenders changing conventional banking techniques in favor of cryptocurrency.”
“Latin America can be an space the place we count on to see an increase in exercise from BitPay retailers and clients over the subsequent few years,” he added.
Litecoin is the Twelfth-largest cryptocurrency by market capitalization at $6.8 billion, with its every day buying and selling quantity round $1.14 billion.
There are at present 73.5 million LTC in circulation out of a most provide of 84 million.
Collect this article as an NFT to protect this second in historical past and present your assist for impartial journalism within the crypto area.
Journal: ‘Elegant and ass-backward’: Jameson Lopp’s first impression of Bitcoin
