Litecoin Just Halved Its Crypto Rewards for Miners

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Litecoin (LTC), currently the fourth-largest cryptocurrency by market capitalization, has just reduced its block reward for miners by half.The litecoin blockchain reached the trigger block height of 1,680,000 at 10:16 UTC on Monday, according to the litecoin explorer from mining pool operator BTC.com.The event marks a major threshold for miners, as the litecoin network is designed to reduce its mining rewards by half every 840,000 blocks (roughly every four years).For this “halving,” the mining reward for every block has been reduced from the previous 25 LTC to 12.5 LTC.Given the block production time on the litecoin network is around one block every 2.5 minutes, roughly 576 blocks are produced in every 24 hours with a new supply of 7,200 LTC entering into the market – half the previous daily level of around 14,400 LTC.As of press time, about 63 million out of the total issuance of 84 million LTC are…

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