Litecoin Halving Preparations

cryptowarrior88 (59)in #cryptocurrency • 5 years ago

Litecoin (LTC) will have its halving event in a day or so, an event that has the reputation of creating price spikes in the past has witnessed a 25% decline in its valuation over the last month.

A halving event occurs when the block rewards of miners that helps to validate accounts are cut into half; miners receive this reward for solving mathematical miners that create each new block on a given blockchain in this case Litecoin.

This is set to occur on August 5, 2019, which will see block rewards reducing to 12.5 Litecoins per block, exactly half of the current 25 LTC.

These halving events usually occur every 4 years or at every 840,000 blocks and were designed to slow down the inflation rate of digital assets like Bitcoin and LTC which has a finite number.

This event is closely monitored by investors, miners and LTC holders alike as it greatly influences the price action of the digital asset, as it stands, there have been mix reactions to the said event.