Halved success! Litecoin does not fall by 11%

At around 18:20 on August 5, 2019 Beijing time, the Litecoin was successfully halved at a block height of 1680000. The output of each Litecoin block was officially reduced from 25 LTC to 12.5 LTC, and the corresponding block reward was halved. The annual inflation rate will also be reduced from the current 8.94% to 4.26%. Ltc.coinsummer shows that the current Litek block height has exceeded the halving target to 168,0009.

The market's general expectation for Litecoin is that Litecoin will fall sharply after halving. However, within 10 minutes after the halving, the currency security market showed that Litecoin did not fall and rose by 11%. Litecoin has risen from US$92 to US$106 in one hour. At present, the upward trend of Litecoin is still maintained. The Litecoin is temporarily reported at US$103, with a 24-hour increase of 11.56%.

On August 26, 2015, Liteco coin reduced its production for the first time at a block height of 84,000. In the half year before the production cut, the price of Litecoin doubled in less than three months. After halving, the price of Wright was greatly reduced. .

However, it is worth noting that the price of the Litecoin has almost doubled after the two-month reduction in production.

In the second half of this year's halving, the price of the Litecoin in the first half of this year almost continued the first half of the halving of the script, rising more than 400%, then will continue to follow the script after half a month or two?

If so, the Litecoin will be adjusted back after halving and regained double the market trend by October .

Shallot has previously made a full resumption of the halving of the Litecoin, including the currency price trend, the impact on the miners, etc., please poke "countdown 3 hours! Write the last words before the 5% of the Litecoin .

After halving, 30% of the mainstream miners will be shut down?

Today, the founder of the F2Pool fish pond, Weishen, said before the halving that the current Litek currency price, if the mining revenue tonight is halved, the Litecoin L3+ mining machine (L3+ is the current mainstream mining machine of Litecoin) Can declare a shutdown.

In the interview with the block rhythm, Shenyu made a detailed analysis of the impact of the Litecoin halving on the miners:

1. At present, the mainstream mining machine of LTC is the ant's L3+ series, including L3+ and L3++. Therefore , if the output is halved, the mainstream mining machine will have a great impact. It is expected that 20%-30% of the mainstream mine opportunities will be shut down ;

2. The miner should calculate the cost and pay attention to the price to make the cash. After about half a day of production cut, the difficulty of mining is over, and the cost and benefits of the miners will have clear results. The miners can clearly see if the L3+ can still be dug. During this period, some miners should choose to wait and see, and wait until the results are clear before making a decision;

He further added that, considering all the electricity costs, the electricity bill can now be calculated at an average of 0.26 yuan. The ant's L3+ model LTC mining machine accounts for about 51% of the electricity bill. If the output is halved, the reward for the excavated coins is basically The top is to pay the electricity bill.

However, from the current price of Litecoin, the mine is not shut down or there is still a distance, and it will not shut down immediately.


Litecoin next battlefield: privacy and substitutability

Market confidence has been shaken in the days when Litecoin is about to halve. But Charlie Lee, the founder of Litecoin, said everything will return to normal.

Ambcrypto reported that in a recent interview, Li Qiwei pointed out that “it is possible that some miners (because of the halving incident) turned off their machines. But after a few days, the difficulty of mining will be re-adjusted and everything will return to normal.”

In general, Li Qiwei believes that “half will happen and there will be no mistakes.” In addition, he stressed that Litecoin needs to be more substitutable and privatized in order to “make money”. To achieve this goal, the company is studying the idea of ​​using "Mimblewimble as an extension of Litecoin." Mimblewimble achieves privacy without sacrificing scalability. Privacy and substitutability will be the next battleground.

Currently, the currency of the Mimblewimble privacy agreement mainly includes privacy notes such as Grin and Beam, and Grin and Beam have doubled the surge in the main online line this year.

Source: Shallot blockchain

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Decoding RWA: The most valuable wealth password in a compliance context

As the era of Web3 native application market is approaching, it is necessary to mobilize more real-world assets/capit...


From ERC20, 721, 1155 to 3525: A detailed account of RWA's journey towards Web3 mass adoption

Encryption researcher Bocai Bocai believes that in the RWA narrative, the ERC-3525 standard has the most potential. H...


Bankless Why does the US Treasury Bond Trigger the Widespread Adoption of RWA?

Today, we delve into the world of Real World Assets (RWA) and explore the potential of tokenizing US government bonds...


Tokenizing Everything Institutional Betting on the RWA Track Enters the 'Golden Age

What if the next generation of cryptocurrencies is not composed of 'magical internet money' they have never heard of,...


Binance Research Current Status and Project Progress of the RWA Market

It has been over four months since Binance first released a report on real-world assets. What changes have occurred i...


Understanding Two RWA Asset Issuance Models in One Article

This article will organize and analyze the common types of RWA token issuance in the market, hoping that readers can ...