Litecoin To See Block Reward Halving In Just Over 200 Days, First Among Major PoW Cryptocurrencies Cryptocurrency

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In approximately 202 days, the Litecoin (LTC) cryptocurrency network will experience a halving block reward on or around August 3, 2023. Litecoin will be the first major proof-of-work (PoW) blockchain to see a reward reduction before the next Bitcoin halving, which is expected to occur in 203 days.

Litecoin halving expected to take place on or around August 3, 2023

Litecoin, the 14th largest cryptocurrency today, is gearing up to see a block reward halving in 202 days. It will be the first major proof-of-work (PoW) cryptocurrency to have a halving reward, in addition to the upcoming halving scheduled in 158 days for Dash. However, the Dash reduction is different from a halving as the reward will be reduced from 2,763 Dash to 2,566 Dash. Like Bitcoin, Litecoin’s block halving halves the reward (by 50%) and it will drop from 12.5 LTC to 6.25 LTC.

Estimated Dash halving countdown and countdowns for LTC and BCH reward halvings in 2023. After DASH, LTC and BCH, the next halvings will come from BSV, BTC, ETC and ZEC.

While Litecoin (LTC) today holds the 14th largest market capitalization, it was one of the top ten cryptocurrency competitors in the early days of the crypto market. The LTC network has many differences from Bitcoin (BTC) as there are more coins in circulation – currently over 72 million LTC in circulation. However, LTC is approaching its maximum bid of 84 million. Bitcoin block time is usually around 10 minutes per block, but LTC blocks are much faster at 2.5 minutes per block.

🔥Litecoin Halving Cycles 2W Chart🔥

Something to give us bullish vibes for the near term future and a real strong uptrend from June 2024.

💡 The next Litecoin halving will be August 3, 2023 pic.twitter.com/8tzlCUQICp

— Zen ☮️ (@WiseAnalyze) January 8, 2023

Two-week market stats show Litecoin (LTC) gained 29% against the US Dollar, but LTC is down 79% from the cryptocurrency’s all-time high. LTC reached an all-time high of around $410 per unit over a year ago on May 10, 2021. In addition to the supply difference between LTC and Bitcoin (BTC), the proof-of-work algorithm of Litecoin, Scrypt, is different from SHA-256. The upcoming LTC halving will be Litecoin’s third block reward halving since its inception.

LTC had its first halving on August 25, 2015, and this halving reduced the block reward for miners from 50 LTC to 25 LTC. LTC block halvings occur every 840,000 blocks, or four years. The second Litecoin block reward halving took place on August 5, 2019. This particular halving reduced the block reward for miners from 25 LTC to 12.5 LTC, the current reward level for miners of Litecoin today.

In addition to Dash and Litecoin, the next three blockchains that will see block reward halvings are Bitcoin Cash (BCH) in 450 days, Bitcoin SV (BSV) in 455 days, and Bitcoin (BTC) in 474 days. Ethereum Classic is expected to see a block reduction similar to that of Dash in 568 days. And, Zcash (ZEC) will see a halving in 677 days. The ZEC block reward halving will see the subsidy drop from 3.125 ZEC to 1.5625 after the halving on or around November 20, 2024.

How do you think Litecoin’s upcoming halving will impact its mining ecosystem and price? Leave your thoughts in the comments below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.

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