Litecoin has completed its much-anticipated halving event today, but it seems the investors have reacted by participating in a selloff. Litecoin Has Completed Its Third Halving, Block Rewards Now Down To 6.25 LTC The “halving” event is where LTC’s block rewards are permanently cut in half. This event is periodic, occurring approximately every four years or roughly every 840,000 blocks miners hash. Today’s halving was Litecoin’s third, meaning its block rewards have been cut three times since its genesis. In the first halving, the cryptocurrency saw its block rewards go from an initial 50 LTC to 25 LTC, and with the second, the tips dropped further to 12.5 LTC. With the latest halving event, miners’ rewards for solving blocks have been cut down further to 6.25 LTC. The reason that halvings even exist is because they serve as a measure for controlling the asset’s inflation. These block rewards that miners receive are the only way to introduce fresh tokens into the circulating supply, so cutting them down repeatedly makes sure that the cryptocurrency’s supply goes up slower and slowe ..
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