Litecoin to create its own payment processor LitePay

Litecoin Foundation has stated that the launch of a huge payment processor is to be announced soon and LitePay will open up signups in February of 2018
22 December 2017   18016

Litecoin Foundation has made an announcement on December 22 stating that the launch of Litecoin own payment processor LitePay is coming on February 26 and that it currently is in private beta.

  • Possibility to accept Litecoin payments for business. Users can use LitePay's retail, ecommerce, billing, and donation tools to accept payments from customers anywhere on earth
  • Ability to receive settlement from Litecoin payments directly to the bank account in your own currency, with zero price volatility or risk
  • Ability to manage Litecoin finances in one application with the secure open source wallet by Litepay, which will be available for all major mobile and desktop browsers
  • The LitePay card will let users load dollars using any Litecoin wallet with 0% fees and get instant withdrawals from VISA compatible ATMs and spend with any VISA merchant

At the moment of press, these are main market parameters of Litecoin:

  • Average price: $193,06
  • Marketcap: $10 506 435 614
  • 24h volume: $1 771 130 000

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   118

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.