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Litecoin Blockchain’s ‘Halving,’ Set for Wednesday, Should Harden Supplies of ‘Digital Silver’

by Index Investing News
August 1, 2023
in Cryptocurrency
Reading Time: 1 min read
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Litecoin, like Bitcoin, uses a “proof-of-work” security mechanism – relying on “miners” who expend computational resources to process transactions and secure the network. During that process, miners win rewards – a combination of variable transaction fees and a predetermined “subsidy” that gets halved approximately every four years. (With Litecoin, they happen every 840,000 transaction blocks, and the average time to generate each block is about 2.5 minutes.)



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Tags: BlockchainsdigitalHalvingHardenLitecoinSetSilversuppliesWednesday
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