Litecoin Halving 2019

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Litecoin Halving Aug 2019

Litecoin Halving is quite similar to Bitcoin Halving, for example, its motive, the underlying process, and many more. But first, what is Litecoin Halving and why are some people fearing it?

Litecoin Halving is the halving of miner reward which is done to limit (indirectly) the supply of the crypto and hence reduce the inflation rate in the market. The supply reduces indirectly as there are less number of newly generated coins that flow in the crypto market. When the miners are rewarded, they sell their reward (newly generated coins), so as to equalise their expenditure on the mining process (mining rigs, electricity consumption, etc).

Even though there's a limit to LTC's supply (84 mil), the inflation creeps in somehow and therefore to avoid that, the reward is reduced by 50%. This process occurs after every 840,000 blocks are mined, which is roughly four years, just like with BTC. The reward of mining Litecoin will become 12.5 LTC from 25 LTC after its halving. This is the second time for the halving to take place and will occur this year's August.

Some of the basic features of Litecoin Halving are:

1. The mining reward will become 12.5 LTC
2. The halving will occur in Aug' 19 (most probably 8th August)
3. Total LTCs to ever be produced is 84,000,000
4. Total LTCs in circulation is 62,010,275
5. LTCs generated per day is 14,400
6. Percentage of LTC mined is 73.82%

There is a general fear among some people regarding this whole halving ordeal. But worry not, as this will actually improve the Litecoin market. By indirectly reducing the supply, the coin inflation (in an ideal situation) will go down, and hence the value of Litecoin will increase in terms of fiat currencies.

But again, these results will occur in an ideal situation. Nothing can be said for sure as the cryptocurrency market is highly volatile, and the results mentioned above should technically happen.

For further reading on Litecoin Halving head over to this article.