.litecoin $LTC has its third halving in August: Comprehensive guide Litecoin LitecoinHalving
Veteran cryptocurrency Litecoin , the"Digital Silver" and the most successful and popular Bitcoin fork, is about to undergo its hotly-anticipated third halving event.
Typically, Litecoin halving is an event that triggers a bullish cycle not only for the"Digital Silver," but also for Bitcoin and all major altcoins. Also, Litecoin replaced the Bitcoin SHA-256 algorithm with a scrypt one. It also has a 4x lower block time than Bitcoin : Litecoin adds a new block every 2.5 minutes.
Bitcoin halvings happened in 2012, 2016 and 2020. In 2012, the number of new Bitcoins issued per block dropped from 50 BTC to 25 BTC. In the most recent May 11, 2020, halving, the reward plummeted from 12.5 to 6.25 BTC per block. Despite the Litecoin price action not being associated with its halving cycles by default, typically, it surges a few months after halvings. The first and second halving events triggered triple-digit upsurges of the Litecoin price. Besides the LTC price rally, it brings a major change to the economics of Litecoin mining.
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