What is the issuance and circulation of LTC coins?

Litecoin's initial supply was 84 million coins, four times the supply of Bitcoin at the time, and its issuance schedule involves regular halving events that reduce the block reward for miners over time.

Oct 06, 2024 at 02:35 pm

Issuance and Circulation of Litecoin (LTC)

1. Initial Creation:

In October 2011, Litecoin was created by Charlie Lee, a former Google employee and cryptocurrency enthusiast.
The initial supply of LTC was set at 84 million coins, which was 4 times the supply of Bitcoin (BTC) at the time.

2. Issuance Schedule:

Litecoin's issuance schedule is similar to Bitcoin's in that the block reward for miners gradually decreases over time through a process called "halving."
The halving events occur every 840,000 blocks, or approximately every 4 years.

3. Halving History:

The first halving occurred in August 2015, reducing the block reward from 50 LTC to 25 LTC.
The second halving occurred in August 2019, further reducing the block reward to 12.5 LTC.
The third halving is expected to occur in August 2023.

4. Current Issuance Rate:

As of February 2023, Litecoin's issuance rate is approximately 16,500 LTC per day.
This rate will continue to decrease with each subsequent halving until the total supply of 84 million LTC has been reached.

5. Circulation:

Litecoin's circulating supply as of February 2023 is approximately 71 million LTC.
The difference between the initial supply and the circulating supply represents the amount of LTC that has been lost, destroyed, or is currently uncirculated.

6. Lost or Destroyed LTC:

Some Litecoin has been lost or destroyed over the years due to various reasons, such as hardware failures, accidental deletion of private keys, or theft.
Estimates suggest that anywhere from 4 to 10 million LTC may have been lost or destroyed permanently.

7. Uncirculated LTC:

A significant portion of Litecoin's supply is currently uncirculated, meaning it has not been transferred since being mined.
This uncirculated LTC may eventually enter circulation as people and institutions decide to sell or spend their holdings.

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