Litecoin Undergoes Third ‘Halving,’ in Milestone for 12-Year-Old Blockchain

Bitcoin and Litecoin both reward “miners” who process transactions and secure the network, with a reward – a combination of variable transaction fees and a predetermined “subsidy” that gets halved approximately every four years. (With Litecoin, they happen every 840,000 transaction blocks, and the average time to generate each block is about 2.5 minutes.)