Mon, 22/04/2024 – 15:43

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Litecoin (LTC), a trailblazing cryptocurrency, has reached a significant milestone by achieving 12.5 years of uninterrupted operation. This accomplishment highlights the network’s reliability and robustness.

In a celebratory tweet, the official Litecoin X handle proclaimed, “Litecoin works. for 12 and ¹⁄₂ years. 100% uptime.”

Since its establishment in 2011, Litecoin has maintained seamless operation with minimal downtime, a distinction that sets it apart from many other cryptocurrencies. The network’s ability to sustain continuous functionality for over a decade underscores the strength of its core technology and the commitment of its development community.

Conceived by Charlie Lee, Litecoin was envisioned as the “silver” counterpart to Bitcoin’s “gold,” with a capped supply of 84 million coins.

Over the years, the network has undergone numerous upgrades and enhancements. Of particular note, Litecoin experienced a “halving” in August 2023, reducing the mining reward from 12.5 LTC to 6.25 LTC per block. This periodic event, occurring roughly every four years, serves to manage inflation and prolong the sustainability of the reward mechanism.

Looking to the future, Litecoin is adapting alongside the broader cryptocurrency landscape, having processed over 238 million transactions since its inception. Recent reports from IntoTheBlock reveal that the Litecoin (LTC) network has exceeded five million long-term holders, representing approximately 62.5% of all LTC addresses with a positive balance.

The accumulation of Litecoin is also evident at Grayscale, likely linked to Grayscale’s Litecoin Trust.

This month, Coinbase Derivatives made history by becoming the first CFTC-regulated futures exchange to introduce margined LTC futures, marking another significant achievement.

As of the latest update, LTC has recorded a 0.26% increase in the past 24 hours, reaching \(84.43, and stands as the 20th largest cryptocurrency with a market capitalization of \)6.28 billion.