The Litecoin halving is imminent and is predicted to occur on Tuesday, August 25th. Approaching so quickly, the Litecoin Association would like to reflect on the tremendous accomplishments and milestones achieved by its community during these last four years.
On October 7, 2011, Litecoin was created and its genesis block was processed. Six days later on October 13th, Litecoin was released to the world — to mine on and utilize — via BitcoinTalk.org (small note, only 3 blocks were mined by Charlie Lee to test the network, the gap between the genesis block and release date was to ensure more people were aware of Litecoin at launch to ensure a fair launch and distribution). While Litecoin was not the first alt coin, it has been the most successful. Its adoption and acceptance within crypto communities, outside businesses and industries, and now regional, state, and national governments speaks volumes about its potential and is, frankly, incredible.
Everyday, we are seeing increased activity with Litecoin. From miners to traders, to developers, merchants, exchanges, and general public, Litecoin is becoming synonymous with the word cryptographic-currency. It is listed on nearly all crypto-currency exchanges, and businesses are starting to accept and hold Litecoin as a form payment. Examples include REMAX London, Cheapair.com, BTC Trip, and eGifter.
Beyond community involvement, Litecoin has one of the strongest and most secure networks on Earth. In October 2014, Litecoin surpassed the 1 terahash milestone. First achieved by Bitcoin and only achieved by cryptocurrencies having specialized mining equipment known as application-specific integrated circuits (ASICs), the terahash milestone ensures the strength and security of the network so that it may be utilized confidently as a payment method.
Recently, there have been rumblings about the price of Litecoin due to its halving. Between the technophiles, traders, hobbyists, and others, we feel it is critical to mention that the price of Litecoin (while exciting) is not paramount to the goal of what we are trying to achieve as a cryptocurrency. The industry as a whole, not just Litecoin, have come a long way. And we feel it is critical to remind everyone that what we are doing is civilization defining. To be able to send remittances within minutes, to store legal information digitally without fear that the documents would be shredded, to be your own bank, and more, all in a decentralized manner, is revolutionary. To be able to accomplish these tasks are so momentous that it has attracted the attention of governments and trillion dollar industries! This is why we do what we do as an industry.
For those who wish to understand a bit more about the halving, the Litecoin Association has produced an educational video on it found here https://www.youtube.com/watch?v=BPxq8CgMooI which describes in basic terms what the halving means and its significance to Litecoin. This is one in a series of growing videos that we have produced in order to explain crypto currencies to those both inside and outside of the crypto communities.
We at the Litecoin Association are both proud and humbled that we can play our small part in the crypto currency ecosystem and industry. The halving is a significant milestone for litecoin, and with the support of the multiple communities, one step closer to defining the future for the world.
And remember, you can’t spell aLTCoin without LTC.
Thank you
The Litecoin Association
Andrew Vegetabile
Jason King
Eric Mihalik
Ryszard Mielcarek
Phillip Auman
For more information about Litecoin merchants, exchanges, wallets, and more, please visit www.Litecoin.com
Now in 2019 another Litecoin Block Halving Happened.
LTC generated per day is now 7,200. Now we have 12,5 Litecoins per mining block. Next halving will be around 03 Aug 2023.