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According to an official official post from Litecoin, block no. 1560000 saw the millionth millionth Litecoin, which represents about 71.5% of the total market capitalization of 84 million. Although this is an important milestone, Litecoin states that only 3 million LTC remain until halving, dropping the prize from 25 LTC to 12.5 LTC.
The fall in the block premium is expected to take place around August 2019, when approximately 75% of Litecoin's total supply will be coined. The post read:
"The halving is estimated somewhere close to August 2019 when 75% of Litecoin's total supply was extracted at the current rate of the reward it takes about 70 days to put into circulation 1M of new Litecoin and after halving, this time will double to ~ 140 ".
70 million Millstone is not possible until 2022
If the current rate is something to be done, Litecoin expects that since it is deflationary, it may not be possible to see the finish line of the 70M until mid-2022 or after 1330 days.
Regarding this, the post stated that:
"It also means that since Litecoin is deflationary it will not be possible to see the milestone of the 70M up to about 1330 more days, or towards the middle of 2022".
According to the estimate of Litecoin, the last Litecoin will be extracted in 2142. The mathematics of its system shows that when the final LTC is drawn, the prize of the block will be 0.00000042.
Litecoin seems to have a promising future
In 2018, Litecoin's Lightning Network became a blessing for its network as it allowed for fast transactions, allowing for scalability.
2019 seems to be a promising year for Litecoin. During the first week of January, Binance TrustWallet added Litecoin's support, along with Bitcoin Cash and Bitcoin, favoring their adoption. The company has recorded significant growth of its network, boasting over 100 active nodes.
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