The next Litecoin halving (the fourth to date) is expected to take placeV July 2027years, but keep in mind that the estimates will become more accurate as the halving approaches. The halving will occur when the memory block height reaches 3,360,000.
Litecoin has managed to stand out from the crowd of little-known projects and secure its position as the best altcoin in the face of fierce market competition.. What has been the journey of Litecoin? $LTC

History of Litecoin
First of all, let's take a look at the background of the project. Since the release of Bitcoin's white paper in November 2008, the concept of peer-to-peer cryptocurrency began to gain popularity in a small community. As Bitcoin gained value as a means of payment, its price gradually increased, and alternative cryptocurrencies started to emerge in the market.

This fascination greatly influenced Charlie Lee, a graduate of the Massachusetts Institute of Technology and a former Google employee. In November 2011, he developed Litecoin based on the fundamental technical principles of Bitcoin and called it a 'lighter' version of Bitcoin.$BTC

Advantages of Litecoin
#Litecoin is clearly positioned as a lighter Bitcoin with improvements in terms of block generation speed, transaction throughput, and overall supply.

Improvement 1: Bitcoin creates a block every 10 minutes, while Litecoin does the same in just 2.5 minutes. This means that the throughput of Litecoin is about four times higher than that of Bitcoin.. Additionally, Litecoin charges a relatively low transaction fee, averaging around $0.01.

Improvement 2: The total supply of Bitcoin is 21 million, while the supply of Litecoin is four times larger at 84 million.

Improvement 3: In terms of algorithm, Bitcoin uses SHA-256, while Litecoin uses Scrypt. Since the Scrypt algorithm is more efficient than SHA-256, mining Litecoin is more productive and better suited for miners who extract small volumes.. Additionally, due to the use of Scrypt, Litecoin is more decentralized than Bitcoin.

Building a Community
If simply changing Bitcoin's source code was enough for success, altcoins like Primecoin (XPM), Moleculecoin (MOL), and Megacoin (MEC) would not have become dust in history. In the crypto space, building a community is key to the project's development. As the founder of Litecoin, Charlie Lee is actively involved in the community. He often provides technical support and advises community members, contributing to the continuous improvement of Litecoin.

Additionally, the nonprofit organization Litecoin Foundation has played an important role in the development and promotion of Litecoin, helping the project gain worldwide recognition and global adoption. According to available data, more than 2000 vendors and stores around the world accept payments in LTC.

Fixed Halving Mechanism
To reduce inflation, Charlie Lee decided that the mining reward for Litecoin would be halved every 840,000 blocks (approximately every four years), corresponding to Bitcoin's halving mechanism. The third Bitcoin halving took place in May 2020, and the third Litecoin halving will occur in August of this year, after which the block reward will decrease from 12.5 LTC to 6.25 LTC.

Over time, the mining of Litecoin will decrease, slowing the influx of new $LTC into the market, thus increasing the token's scarcity. Additionally, based on historical trends, each halving marks the beginning of a new bull market.
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