Mr_Trader0x

Litecoin

LTC

$93.39 0.79%Buy LTC 

HalvingEst. Halving DateBlockBlock Reward#1October 7, 2011050 LTC#2August 25, 2015840,00025 LTC#3August 5, 20191,680,00012.5 LTC#4Sometime in 20232,520,0006.25 LTC

Market Cap

$6,863,755,682

Circulating Supply

73,493,289 LTC

Max Supply

84,000,000 LTC

Hash Rate

803.72Th/s

Mining Difficulty

25.63M

Current Block

2,519,634

Current Block Reward

12.5 LTC

Block Reward After Halving

6.25 LTC

Litecoin is one of the most popular cryptocurrencies on the market, as well as among the oldest assets in the space. Same as its “big brother,” Bitcoin, Litecoin comes equipped with a mechanism called “halving”. If you’re curious about Litecoin halving dates, how this process works, and how it affects the general crypto industry, you’ve come to the right place!

When is the Next Litecoin Halving?

The next Litecoin halving date is expected to be August 4th, 2023. This date can differ, however, depending on a few different factors. To see the exact point in time when the next LTC halving will occur, take a look at the countdown above.

When Will the Last Litecoin Halving Happen?

At this point in time, it’s not yet clear when the last Litecoin halving will occur. However, judging by the numbers, it’s going to happen many years in the future - the current estimation is the year 2142.

What is the Litecoin Halving History?

Litecoin has had two halving events already - one in 2015 and another in 2019. In turn, while the block mining rewards were 50 LTC in 2011 when Litecoin was created, they are currently 12.5 LTC per block, and after the 2023 LTC halving, they’ll be 6.25 LTC.

What is Litecoin Halving?

Now, let’s get the definitions out of the way first.

Litecoin halving is an event when the LTC mining rewards get cut in half. Simple, right?

On a more serious note - while it may sound pretty simple at first, there’s actually a lot of background and weight that follows that definition. And, in order to fully understand the significance of LTC halving dates, we need to take a step back and look at the technology side of Litecoin first.

Litecoin’s History & Proof-of-Work

As I’ve mentioned earlier, Litecoin was created in 2011. The purpose of this crypto project is actually very straightforward - to improve on the technology of Bitcoin in every way possible.

The (arguably) biggest improvement, and the one that’s most relevant to our Litecoin halving discussion, is the transaction speed. Specifically, Litecoin offers transaction speeds up to 4 times faster than those of the Bitcoin blockchain.

This also means that while a BTC block takes 10 minutes to mine, Litecoin blocks get mined around every 2.5 minutes. This metric is significant when calculating the specific LTC halving date.

All of that might make little-to-no sense if you’re not familiar with cryptocurrency mining, Proof-of-Work, and the fact that, from a general perspective, Litecoin’s blockchain is very similar to that of Bitcoin. Now, while I won’t get into the details of the processes that I’ve just mentioned, let’s still have a quick rundown so that we’re both on the same page.

Cryptocurrency mining is a process where miners (people like you and me, or even large companies) employ their devices (either personal computers or special mining machines) to confirm transactions that are happening on a crypto network. By approving these transactions, miners “mine blocks” (since transactions are stored in these data blocks) and add them to the blockchain.

If you’re the one who successfully mines the block, you receive a reward for your work. This reward is exactly what gets halved every time a Litecoin halving takes place.

The process of mining crypto is part of “Proof-of-Work”, a broader methodology of how certain networks (blockchains) confirm transactions and keep themselves secure. Both Bitcoin and Litecoin use Proof-of-Work and thus act very similarly halving-wise.

How Does Litecoin Halving Work?

Now that you’re familiar with the core general concepts surrounding Litecoin halving, we can get a bit more specific and explore the phenomenon in question.

LTC halving dates back to 2015 when the first halving of this crypto asset occurred. Since its creation, halvings have been occurring on the Litecoin network every 4 years or so - check the table below for more details: