Litecoin (LTC), an early cryptocurrency, has reached a significant accomplishment – maintaining continuous operation for 12.5 years without interruption. This feat highlights the network’s robustness and dependability.
“Litecoin has been consistently functioning for over 12 years without interruption,” the Litecoin (@Litecoin_X) team expressed joyfully on Twitter.
Litecoin works. For 1️⃣2️⃣ & 1/2 years. 100% uptime.
— Litecoin (@litecoin) April 22, 2024
Starting from its launch in 2011, Litecoin has managed to run consistently with minimal interruptions, an accomplishment that not many cryptocurrencies have achieved. The network’s uninterrupted operation for over a decade underscores the robustness of its technology and the commitment of its developers.
Litecoin, developed by Charlie Lee, is the supposed “silver” counterpart to Bitcoin‘s “gold,” featuring a maximum coin supply of 84 million units.
Over the past few years, the network has gone through numerous enhancements and advancements. One significant change took place with Litecoin in August 2023. During this time, a process called “halving” occurred, reducing the mining reward from 12.5 Litecoins to 6.25 Litecoins for each block mined. This event happens roughly every four years and aims to manage inflation and prolong the effectiveness of the reward mechanism.
Moving forward, Litecoin aligns with cryptocurrency market trends as it has handled over 238 million transactions since its beginning. Notably, IntoTheBlock revealed that more than five million investors have held onto Litecoin (LTC) for extended periods, which represents approximately 62.5% of all active LTC addresses.
Grayscale is amassing more Litecoin, which is likely connected to their Litecoin Trust.
This month, Coinbase Derivatives made history by being the initial futures exchange overseen by the Commodity Futures Trading Commission (CFTC) to provide margin trading for Litecoin (LTC) futures contracts. This is yet another noteworthy achievement.
Currently, Litecoin (LTC) has increased by 0.26% within the past 24 hours, reaching a price of $84.43. With a market capitalization of $6.28 billion, Litecoin ranks as the 20th largest cryptocurrency in existence.
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2024-04-22 18:45