After the halving, it will take a projected 8.35 years to mine all the LTC. If the miners mine all the LTC, the network will have to shift to some other form of operation, probably Proof of Stake mining, and if they mine too many too fast, the value will fall through the floor.Īt the current rate of mining - about 14,400 LTC per day - it will take just over 4 years to mine all the LTC left to mine: about 22,000,000. The reason for the halving is two-fold: to control inflation and prolong the life of the network. This means the available supply will be lower and the difficulty in finding them will be higher - two drivers of price in a commoditized world. Each time a miner mines a block of Litecoin transactions, they get 25 Litecoins. The halving refers to the Litecoin block reward. The next halving is about two months away and is a big driver of Litecoin value. The halving is a regularly scheduled event in the Litecoin code that occurs every 840,000 blocks. The halving - sounds like something out of a science fiction movie and not far off. That is attracting new money to the market, more miners to the network - and those two factors are going to drive Litecoin up to retest its all-time highs in the next six months. If you are looking to speculate a cryptocurrency, Litecoin is by far the better choice. Costs for Bitcoin are going up, while the cost for Litecoin transactions stays low - as Bitcoin's usage increases and there is more demand for the network, the cost will only go up. It takes an average 78 minutes to complete a Bitcoin transaction, where Litecoin takes about 30. Confirmations of Bitcoin transactions are erratic in their timing, where Litecoin transactions are confirmed instantly (more or less). Bitcoin is limited to about 7 transactions per second, where Litecoin can do close to 60. The comparison between Litecoin and Bitcoin is simple to make - the choice easy from a user's standpoint.
In essence, Litecoin is a lighter-weight, faster-executing version of the original. While not technically a hard fork of the Bitcoin network, Litecoin is an improved version of the core Bitcoin code. The debate of which hard fork of Bitcoin ( BTC-USD) is better was answered long ago when Litecoin ( LTC-USD) was launched. Litecoin, A Lightweight Version Of Bitcoin
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