Litecoin (LTC) Halves Without Glitch

5d482b87f9423200061d618d 700xauto

The Litecoin (LTC) halving of the block reward was reached on August 5, based on an early schedule of accelerated block production. Charlie Lee, Litecoin’s founder, tweeted the event: Litecoin network saw extremely high activity in the days before the halving, leading to accelerated block production and an earlier date. In the months past, the halving was expected to happen at the end of August, but relative block time brought the event sooner. The block reward was cut from 25 LTC per every 2.5 minute block, to 12.5 LTC. Curiously, every 10 minutes, 50 LTC are created, and only 12.5 Bitcoin (BTC). LTC rallied by more than 11.2% on Monday, stronger in comparison to both BTC and other altcoins, climbing to $107.75. The asset boasted $3.5 billion’s equivalent in daily trading. But despite the higher dollar price, LTC has lost 50% of its BTC price since mid-July. LTC slid…

Read the original article here