Cryptocurrencies

Text

What is the issuance and circulation of LTC coins?

Litecoin's initial supply was 84 million coins, four times the supply of Bitcoin at the time, and its issuance schedule involves regular halving events that reduce the block reward for miners over time.

Oct 06, 2024 at 02:35 pm

Issuance and Circulation of Litecoin (LTC)

1. Initial Creation:

In October 2011, Litecoin was created by Charlie Lee, a former Google employee and cryptocurrency enthusiast.
The initial supply of LTC was set at 84 million coins, which was 4 times the supply of Bitcoin (BTC) at the time.

2. Issuance Schedule:

Litecoin's issuance schedule is similar to Bitcoin's in that the block reward for miners gradually decreases over time through a process called "halving."
The halving events occur every 840,000 blocks, or approximately every 4 years.

3. Halving History:

The first halving occurred in August 2015, reducing the block reward from 50 LTC to 25 LTC.
The second halving occurred in August 2019, further reducing the block reward to 12.5 LTC.
The third halving is expected to occur in August 2023.

4. Current Issuance Rate:

As of February 2023, Litecoin's issuance rate is approximately 16,500 LTC per day.
This rate will continue to decrease with each subsequent halving until the total supply of 84 million LTC has been reached.

5. Circulation:

Litecoin's circulating supply as of February 2023 is approximately 71 million LTC.
The difference between the initial supply and the circulating supply represents the amount of LTC that has been lost, destroyed, or is currently uncirculated.

6. Lost or Destroyed LTC:

Some Litecoin has been lost or destroyed over the years due to various reasons, such as hardware failures, accidental deletion of private keys, or theft.
Estimates suggest that anywhere from 4 to 10 million LTC may have been lost or destroyed permanently.

7. Uncirculated LTC:

A significant portion of Litecoin's supply is currently uncirculated, meaning it has not been transferred since being mined.
This uncirculated LTC may eventually enter circulation as people and institutions decide to sell or spend their holdings.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

SHOGGOTH

$0.1461

105.44%

Trade Now
MIGGLES

$0.1344

82.20%

Trade Now
ANT

$3.74

48.60%

Trade Now
DEGEN

$0.0288

41.96%

Trade Now
VIRTUAL

$0.4884

40.95%

Trade Now
TON

$2.13

39.84%

Trade Now

Latest Crypto News

PM Modi's Aircraft Experiences Technical Issue, Return to Delhi Delayed After 'No-Flying Zone' Declared
2024-11-15 20:20:02
Pennsylvania May Soon Establish Bitcoin as a Strategic Reserve Asset
2024-11-15 20:20:02
DTX Exchange Races Past Milestones as Shiba Inu Investors Join Its Presale, Pushing Funds Above $7.6 Million
2024-11-15 20:10:01
Shiba Inu vs. Pepe Coin vs. Rexas Finance: Which One Will Grow Your Portfolio 10000% This Cycle?
2024-11-15 20:20:02
Dogecoin Surges after Trump’s Re-election, while Cardano Enters a Correction Phase, and Rollblock’s GambleFi Protocol Reaches New Highs with Strong Presale Performance
2024-11-15 20:20:02
The CREATE MORE Act: A Major Step in the Philippines' Drive to Become a Tech Leader in Southeast Asia
2024-11-15 20:30:01

Related knowledge

How much can the OCEAN currency rise to?

Nov 15,2024 at 07:00pm

How Much Can the OCEAN Currency Rise To?The potential for OCEAN's growth is substantial, with analysts predicting significant gains in the coming years. Here are three reasons why OCEAN is well-positioned for future success:Growing Demand for Data: The demand for data is exploding across various industries, including finance, healthcare, and manufacturi...

What is the future of OCEAN currency?

Nov 15,2024 at 06:42pm

The Future of OCEAN Currency: A Comprehensive OutlookIntroductionOCEAN, the native token of the Ocean Protocol ecosystem, is poised to play a significant role in the future of data sharing and computation. As the need for secure and transparent data exchange increases, OCEAN is expected to become a pivotal currency within the blockchain-based data econo...

How about ENS coin

Nov 15,2024 at 06:00pm

The Rise of ENS Coin: Unveiling the Potential of Decentralized Domain NamesIntroductionAmidst the burgeoning blockchain ecosystem, Ethereum Name Service (ENS) has emerged as a revolutionary force in the decentralized web. Its native token, ENS, has gained significant traction, propelling it to the forefront of the industry. This comprehensive analysis d...

Where to trade ENS coins

Nov 15,2024 at 08:20pm

Where to Trade ENS Coins: A Comprehensive GuideENS (Ethereum Name Service) is a revolutionary blockchain-based service that allows users to create human-readable names for their Ethereum addresses and decentralized websites. ENS coins are the native cryptocurrency of the ENS ecosystem, allowing users to participate in the governance of the network, rewa...

Will the price of LRC coins increase?

Nov 15,2024 at 07:56pm

Will the Price of LRC Coins Increase?LRC (Loopring) is an Ethereum-based protocol that aims to provide a decentralized, scalable, and secure platform for trading on various assets. Its native token, LRC, has experienced significant price fluctuations over the years. Understanding the factors influencing its value can help investors make informed decisio...

What currency does BinaryX coin belong to?

Nov 15,2024 at 05:14pm

Understanding the Currency Associated with BinaryX CoinBinaryX Coin, an innovative blockchain-based cryptocurrency, has emerged as a significant player in the digital asset space. Its affiliation with a specific currency is a crucial aspect that influences its value and adoption.Mapping the Currency ConnectionsTo unravel the currency ties of BinaryX Coi...