The 60-millionth coin has been mined on the Litecoin cryptocurrency network. The milestone LTC crypto coin was mined on Saturday, January 12. Thus, to date about 71.5% of the total issuance of 84,000,000 LTC has been mined.
Reaching this historic stage also means that only 3,000,000 LTC remain to be mined until the next halving, when the block reward will drop from the current 25 LTC to 12.5 LTC. According to LitecoinBlockHalf data, this halving of the reward will occur on August 8, 2019, and by that time 75% of the total issuance of the cryptocurrency will have been mined.
At the current issuance rate, mining 1 million LTC takes about 70 days; after the halving this period will double — to 140 days. It is also noted that, taking into account Litecoin's deflationary model, the 70-millionth coin will be mined in about 1330 days, that is, somewhere in mid-2022.
The very last LTC coin, according to the cryptocurrency's mathematical model, should be mined approximately in 2142. The block reward will be 0.00000042 LTC.
