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Litecoin (LTC) Hits New Milestone of 12.5 Years Uninterrupted Uptime

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Mon, 22/04/2024 - 15:43
Litecoin (LTC) Hits New Milestone of 12.5 Years Uninterrupted Uptime
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Litecoin (LTC), one of the pioneering cryptocurrencies, has achieved a remarkable milestone, marking 12.5 years of uninterrupted uptime. This achievement underscores the network's reliability and resilience. 

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"Litecoin works. for 12 and 1/2 years. 100% uptime," the official Litecoin X handle wrote in a celebratory tweet

Since its inception in 2011, Litecoin has been operating without significant downtime, a feat that not many cryptocurrencies can claim. The network's ability to maintain continuous operation for over a decade is a testament to the strength of its underlying technology and the dedication of its development community.

Created by Charlie Lee, Litecoin was designed to be the "silver" to Bitcoin's "gold," with a supply limit of 84 million coins. 

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The network has seen several upgrades and improvements over the years. Notably, Litecoin underwent a "halving" in August 2023, which reduced the mining reward from 12.5 LTC to 6.25 LTC per block. This event, which occurs approximately every four years, is designed to control inflation and extend the longevity of the reward system.

Looking ahead, Litecoin continues to evolve with the broader cryptocurrency market, having processed over 238 million since its inception. Recently, IntoTheBlock reported that the Litecoin (LTC) network has surpassed five million long-term holders, accounting for around 62.5% of all LTC addresses with a balance.

The accumulation of Litecoin continues over at Grayscale, most likely associated with Grayscale's Litecoin Trust.

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Coinbase Derivatives became the first CFTC-regulated futures exchange to offer margined LTC futures this month, marking another significant milestone. 

At the time of writing, LTC had risen 0.26% in the last 24 hours to $84.43 and is the 20th largest cryptocurrency with a market capitalization of $6.28 billion.

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