China to Form Blockchain Standards Committee in 2018

This is said at  Guiyang Big Data Expo by Li Yinn, head of IT at Ministry of Industry and Information Technology
28 May 2018   1762

The National Committee for the standardization of blockchain in China will be established before the end of this year, CoinDesk reports.

In a keynote speech at the Guiyang Big Data Expo, Li Yin said that the structure of the committee would be similar to that of the TC307, similar to the commission from the International Organization for Standardization (ISO).

Thus, the government expects to complete a comprehensive standardization of the blockchain by the end of 2018.

We have been working closely with the ISO and the International Telecommunication Union (ITU). We should soon have our national technical committee for blockchain standardization ready within this year.

Li Ying

Head IT, Ministry of Industry and Information Technology

In February, the official publication of the Communist Party of China called for a tightening of the regulation of the blocking industry in order to foster its further growth.

Litecoin to Implement Reward Halving Successfully

Block reward was reduced from 25 LTC to 12.5 LTC on block 1,680,000
06 August 2019   105

Today, on August 5, the reward for the Litecoin block for miners was halved.

Halving happened on block 1,680,000, changing the block reward from 25 LTC to 12.5 LTC. The next halving will take place in four years - tentatively on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making digital silver even more scarce.

Litecoin Block Reward Halving Countdown
Litecoin Block Reward Halving Countdown

According to litecoinblockhalf, 75% of the total Litecoin supply has been mined so far. The current inflation rate of the coin is 4.26%, and after four years it should drop to 1.80%.

Many investors were sure that the market had long “digested” the positive expectations in connection with a decrease in cryptocurrency emissions and expected either a sideways price movement or even a decrease in the LTC rate.