Litecoin is a cryptocurrency that was created in 2011 by Charlie Lee, inspired by Bitcoin. It operates on a decentralized blockchain network, similar to Bitcoin, but with some differences in terms of technical details and block generation speed.
Litecoin's halving process is a key aspect of its monetary policy. It occurs approximately every four years and reduces the block reward given to miners in half. This means that the number of new Litecoins issued per block mined is halved, resulting in a decreasing inflation rate. The halving process is designed to control the total supply of Litecoins, making it a deflationary cryptocurrency over time. The reduction in supply helps maintain scarcity and is often seen as a crucial event for the long-term value of Litecoin.$LTC
