Litecoin's Third Block Reward Halving

2023-08-02 08:38 UTC

Today Litecoin is undergoing its third block reward halving. This means that the block subsidy is going to change from 12.5 LTC to 6.25 LTC and, consequently, the earnings of all miners are going to diminish. Looking at the bigger picture, this is not entirely a bad thing: the halvings exist to guarantee that there will never be more than 84 million litecoins in circulation, thus making Litecoin inflation-proof. Halvings have been a part of the Litecoin protocol since the very beginning, and are set to happen every 4 years (to be precise, every 840,000 blocks). The last Litecoin halving happened in August 2019, when the block subsidy went from 25 LTC to 12.5 LTC.

Please note that this halving only affects Litecoin, and not any of the merge-mined blockchains. This means that the PPS ratio is going up to reflect the change in relative profitability, while the PPS rate (i.e. how much LTC is paid per share) is going down, as half of what used to come from Litecoin mining will now be missing.