Litecoin processed greater than 160 million transactions in its 12-year historical past
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Litecoin (LTC), one of many digital forex ecosystem’s oldest Layer 1 protocols, has hit an historic milestone by way of the full variety of transactions it has processed. In response to an replace it shared earlier, the blockchain community stated a complete of 160 million transactions have been processed since its inception, a sign of its broad embrace in its 12-year historical past.
The Litecoin protocol was designed to function a cost token, and all these years, the blockchain has served its objective with out disruption. Again and again, Litecoin has boasted of being one of many few protocols that has maintained a dependable uptrend since its launch, a characteristic that has made it extra engaging to customers throughout the board.
Litecoin has advanced over the previous 12 months as new improvements are starting to make their manner into the community. Apart from its core cost function, Litecoin has additionally launched LTC-20 token commonplace as a manner of encouraging the expansion of non-fungible tokens (NFTs) within the community.
The present woes of the Bitcoin community have additionally added to the massive embrace of Litecoin by customers who usually perform crypto transactions. With the main milestone, the potential influence on the value of the asset stays a topic up for debate.
The expansion of Litecoin transactions is about to be complemented by the forthcoming halving occasion that the protocol is about to endure in lower than 70 days. Halving is a community occasion through which the reward given to miners of proof-of-work (PoW) protocols like Litecoin are slashed by half.
As programmed into the core code, the halving occasion takes place each 4 years, with the approaching occasion notably the third the protocol will expertise. The halving occasion has been linked to greater value development, and there are growing projections that this upcoming one is not going to be an exception.
Litecoin is altering fingers at $84.32, down 2.17% on the time of writing, per knowledge from CoinMarketCap.