At the time of writing, Litecoin [LTC] is still over 186 days away from its block rewards being halved again, a ‘halvening’ as many in the cryptocurrency community call the process. However, with LTC prices still recovering from the huge fall in prices it has suffered over the past year, there are some in the LTC community who are looking forward to it, hoping for a sharp surge in prices following it.
Halving, or ‘halvening’ is the process by which miners have their block rewards (Usually, a set lot of coins) for mining split in half after a target number of cryptocurrencies, whether it is Bitcoin or Litecoin, have been mined. The system of halving, as initially proposed by Nakamoto in his White Paper, not only ensures that the cryptocurrency in question doesn’t run out of its limited supply of coin, but also makes sure that the prices rise steadily over time owing to the limited supply of coins available.
Since the first cryptocurrency, Bitcoin, now also the world’s largest…
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