MidChains is pleased to inform you that the Litecoin Halving Event has successfully concluded. All operations on our platform remain uninterrupted.
Thank you for your continued support.
Posted Aug 02, 2023 - 19:48 GMT+04:00
In progress
Scheduled maintenance is currently in progress. We will provide updates as necessary.
Posted Aug 02, 2023 - 19:46 GMT+04:00
Scheduled
MidChains wishes to inform you of the upcoming Litecoin Halving Event.
The Litecoin Halving Event is scheduled once the Litecoin Block Height reaches 2,520,000 which is estimated to occur on August 2, 2023, 15:46UTC / 19:46 GST.
Kindly note that the actual date and time may change as there is dependency on the block height and occurrences of unpredictable hash rate fluctuations on the network.
The upcoming Litecoin Halving Event is expected to significantly reduce block rewards to miners for validating transactions or adding new blocks to the blockchain, leading to a 50% decrease in LTC issuance within the Litecoin blockchain protocol.
Be informed that even though block rewards to miners are reduced due to the halving event, your LTC funds or balances held in Custody with MidChains do not reduce. It is worth noting that the value of your LTC funds or balances may be impacted by potential price volatility resulting from the Halving Event.
We urge clients to remain informed and updated during this time and onward to avert potential risks that may arise as a result of the event.
While this is a pre-programmed event and milestone for the Litecoin blockchain, we wish to further inform you that our platform will continue to operate, enabling uninterrupted transactions, including deposits, withdrawals, and trading, particularly for LTC and LTCUSD pairs.
MidChains continues to monitor the blockchain network and will take necessary steps if required to ensure smooth operations of its platform. We shall continue to keep you updated further where necessary.