Litecoin Network's First Decline in Mining Reward

Litecoin Network's First Decline in Mining Reward

F2Pool, the same mining pool which generated the largest bitcoin transaction ever recorded on July 11, mined the Litecoin network's block 840,000, with a declined mining reward from 50 LTC per block to 25 per block for the first time since its launch in 2011. The Litecoin network, similar to the Bitcoin network systemized to halve its block reward every 840,000. To celebrate its technological "milestone," the Litecoin association published a video explicating the process of the decline in mining reward. Currently, the halving of the mining reward has not affected the network significantly.....


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Litecoin Network Experiences First Mining Reward Decline

Litecoin's block reward has halved. At block 840,000, the mining reward fell from 50 LTC per block to 25 per block, marking the first time the alternative cryptocurrency, launched in 2011, has seen such a reduction. The 840,000th block was mined by F2Pool, also known as Discus Fish. Litecoin supporters took to social media to celebrate the halving, and creator Charlie Lee thanked Chinese supporters in a YouTube message. For now, the network itself doesn't appear to have been significantly affected by the reward drop, though some have speculated that, long-term, the hashrate will fall as....

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