Litecoin Halving Countdown: Get Ready for the Block Reward Reduction
The Litecoin blockchain network will undergo a block halving event on August 2, 2023, which is a programmed reduction in miner rewards that helps regulate inflation and maintain the cryptocurrency's scarcity. Miners are currently rewarded with 12.5 litecoins whenever a block is produced, and this will decrease to 6.25 coins per block after the next halving event.
The halving occurs after every 840,000 blocks are mined, reducing the rate at which new coins are introduced into circulation and controlling inflation. This process will continue until the block reward per block becomes zero, which is estimated to happen in 2142.
The purpose of the halving is to incentivize miners to continue participating in the network while preventing the creation of too many new coins that could devalue the currency. With each halving, the rate of Litecoin's issuance decreases, and this helps to maintain its scarcity over time. As a result, the halving event is a crucial aspect of Litecoin's monetary policy and its overall sustainability.
Knowing Litecoin's controlled supply over time is essential in understanding its current and future inflation rates, the number of coins in circulation, and the remaining ones to be mined. This information helps people rely on its programmed/controlled supply for transparency and predictability.
Litecoin's issuance is controlled by consensus among its participants, with several consensus rules in place since its inception. These include
84 Million litecoins to ever be produced
2.5-minute block intervals
Halving event after every 840,000 blocks (approximately every 4 years)
Block reward which starts at 50 and halves continually every halving event until it reaches 0 (approximately by year 2142)
These rules ensure the stability and predictability of Litecoin's supply and inflation rates, providing users with a transparent and secure cryptocurrency that operates in a decentralized manner.
Analysis of past halving event price performance in Litecoin
The potential impact of a halving event on Litecoin's price is a topic of much debate among investors. Some argue that the market has already priced in the event, so there may be no significant changes in price. Others believe that a halving of supply should cause an increase in price, assuming that demand remains stable or increases. Historical data shows that Litecoin's price has increased significantly following previous halving events. A chart displaying the price performance during these events can help investors understand past trends and inform their future investment decisions.
$BNB الذي يعمل بمثابة الاختصار والرمز الأصلي لسلسلة Build N Build، كان رمزًا مشفرًا أطلقته بورصة العملات المشفرة CeFi Binance في عام 2017. وعدت سلسلة BNB مستخدميها برسوم معاملات منخفضة مع سرعة معاملات عالية، وقد رحب مجتمع DeFi المتنامي بهذا المشروع المنفصل الذي تسعى Binance إلى تحقيقه باعتباره حلاً تجاريًا بديلاً من شأنه أن يدفع Binance وعلامتها التجارية عبر كل من مجالات CeFi وDeFi لتصبح أكبر شركة تشفير في العالم. اعتبارًا من مارس 2023، تمتعت Binance بحجم تداول يومي لا مثيل له بلغ 14 مليار دولار أمريكي لكسب مكانتها الأولى كأكبر بورصة تشفير بينما استحوذ رمز DeFi الخاص بها على أكثر من 46 مليار دولار أمريكي من القيمة السوقية وحصل على المرتبة الرابعة من حيث القيمة السوقية بين جميع الرموز المتداولة. في الأساس، يتكون النظام البيئي لسلسلة BNB من BNB Smart Chain، والتي تعمل كطبقة للمعاملات مع آلية التحقق الفريدة من نوعها Proof of Staked Authority لضمان الأمان ضد هجوم 51٪ دون المساس بالكفاءة المعاملاتية، وBNB Beacon Chain التي تعمل كطبقة حوكمة للنظام البيئي blockchain من خلال التصويت المتراكم، وBNB Side-chain وBNB Greenfield التي تحاكي التحسين المستمر للبنية التحتية لـ Ethereum وzkBNB الذي يطبق Zero Knowledge Roll-up على BNB Smart Chain لمعالجة مشكلة قابلية التوسع من خلال تطوير حل الطبقة 2 الخاص بـ BNB.
في تدوينة المدونة السابقة، قدمنا بإيجاز بروتوكولنا، ZKCross، الذي يهدف إلى ربط Web2 وWeb3 بسهولة دون إضافة تعقيد غير ضروري. كما سلطنا الضوء على المشكلات الحالية التي تعاني منها صناعة Web3، والتي تعيق اللامركزية الحقيقية والكفاءة وإمكانية الوصول للمطورين. ستتناول تدوينة المدونة هذه بشكل أعمق كيف نخطط للتغلب على هذه المشكلات وتحقيق هدفنا المتمثل في ربط Web2 وWeb3 بسلاسة.
قبل أن ندخل في التفاصيل، دعونا نراجع ما يتعلق بـ ZKCross!
وصلت الرموز غير القابلة للاستبدال (NFTs) بالفعل إلى حجم تداول يبلغ 35 مليار دولار في نظام Ethereum البيئي، لتصبح فئة مهمة من أصول العملات المشفرة. ومع ذلك، نظرًا لقيود حجم الكتلة في الأيام الأولى لـ $BTC ، لم يكن من الممكن تشكيل سوق NFT في نظام Bitcoin البيئي لأنه يتطلب تخزين كميات كبيرة من البيانات على blockchain، ومن الواضح أن حجم كتلة 1 ميغابايت من Bitcoin غير كافٍ. لم يبدأ نظام NFT البيئي على Bitcoin في التطور إلا بعد تنفيذ SegWit و Taproot في Bitcoin. ومع ذلك، في نظام Bitcoin البيئي، لها اسم حصري يسمى Inscriptions. دعنا نستكشف الاختلافات بين Inscriptions و NFTs.
Ordinal protocol enables the issuance of NFTs (non-fungible tokens) on the Bitcoin blockchain. You can think of the Ordinal protocol as a system that assigns a unique serial number to each satoshi, similar to our identification card system. This gives each satoshi its uniqueness, and the protocol supports Inscriptions, which can write text, images, audio, video, and other content into sats. This is different from NFTs on Ethereum, where the data is stored on other infrastructure networks. NFT data on Bitcoin is directly recorded on the Bitcoin blockchain.
Since there can only be 21 million BTC in total, the total number of sats is also limited to 2.1 * 10^7 * 10^9 (1$BTC = 100,000,000 SAT).
Ordinal numbers have several different representations:
Integer notation: 【2099994106992659】Ordinal number assigned based on the order in which the satoshis were mined.
Decimal notation: 【3891094.16797】The first number is the block height where the satoshi was mined, and the second number is the position of the satoshi in the current block (also known as an offset).
Degree notation: 【3°111094’214“16797”’】Expresses the rarity of a satoshi using degree notation.
Percentile notation: 【99.99971949060254%】Expresses the position of a satoshi in the Bitcoin supply as a percentage.
Name: 【satoshi】Encoded using ordinal numbers from a to z.
In addition, the Ordinal protocol defines the rarity level of each satoshi based on some periodic time intervals in Bitcoin:
Blocks: A new block is produced on the Bitcoin chain approximately every 10 minutes.
Difficulty adjustments: The Bitcoin network adjusts the mining difficulty every 2,016 blocks (approximately every 2 weeks) based on the current network hash rate.
Halvings: Every 210,000 blocks (approximately every 4 years), the number of bitcoins created in each block is halved.
Cycles: After 6 halvings, something special happens: halving and difficulty adjustment occur at the same time. This phase is called a cycle and happens approximately every 24 years. We have not yet experienced the end of the first cycle, which will occur around 2032.
Based on these periodic events, we have defined the following rarity levels for sats:
Common: Any sat that is not the first sat in its block.
Uncommon: The first sat in each block.
Rare: The first sat in each difficulty adjustment period.
Epic: The first sat in each halving period.
Legendary: The first sat in each cycle.
Mythic: The first sat in the genesis block.
Is Ordinals the only NFT protocol on Bitcoin? Actually, before Ordinals, many projects tried to issue NFTs on the Bitcoin blockchain, with RGB and Taro being typical examples.
RGB and Taro are both second-layer asset protocols built on top of Bitcoin. Compared to Ordinals, they are much more complex, and their main use cases are for fungible tokens. Therefore, the user experience of Ordinals may be simpler and more refined compared to the NFTs on RGB and Taro. On the other hand, RGB and Taro store content off-chain, which requires additional infrastructure and may be lost. In contrast, Ordinals stores content on-chain and will not be lost. Overall, Ordinals is very simple and pure, and the content files are completely preserved on the Bitcoin network. It does not require the issuance of additional tokens, the construction of sidechains, or any changes to Bitcoin, which is the biggest difference from various Bitcoin NFT projects in the past.
The birth of Ordinals has sparked a lot of controversy, but this is also the charm of the Bitcoin community, which is completely decentralized. The development path is entirely determined by the community, allowing Bitcoin users to determine the direction and path of its development. Regarding the appearance of Ordinals, there are pros and cons, supporters and opponents, and different standpoints and demands. We only need to let time and the market verify it, and believe that Ordinals will become the choice of more users.
من المرجح أن يكون بنك وادي السيليكون بمثابة مقدمة لاندلاع الأزمة المالية في الولايات المتحدة.
إن الاقتصادين الأميركي والصيني مترابطان ويعتمد كل منهما على الآخر. والمفتاح لتحديد ما إذا كانت الأزمة ستندلع هو قدرة كل طرف على السيطرة على المخاطر. يجب أن تكون العوائد الرابحة مصحوبة بدراسة المخاطر والتحوط ضدها.
كانت ولادة Bitcoin بمثابة علامة على وصول نظام نقدي إلكتروني لامركزي تم من خلاله تعريف الناس بمفهوم تقنية blockchain - آلية الإجماع لإثبات العمل (POW).
Will the market for Ordinals mirror the explosive growth we saw in NFTs
The explosive growth of non-fungible tokens (NFTs) in the art world has taken the market by storm. This category of digital assets has witnessed unprecedented growth in both value and popularity, with some works selling for millions of dollars. But will the market for another type of digital asset, Ordinals, experience the same explosive growth as NFTs?
Ordinals are a digital asset representing a unique number or sequence. Similar to NFTs, they are a unique digital asset that can be bought and sold on the blockchain. However, unlike NFTs, they do not have the same visual appeal as they are represented by numbers or sequences of numbers.
Unlike other public blockchain ecosystems, such as the NFT ecosystem on Ethereum, which has already given birth to many categories and standards, such as widely adopted NFT standards like ERC721, ERC1155, and some semi-fungible tokens, hierarchical NFT standards, etc. The applications have expanded to various fields, such as art, bonds, memberships, tickets, music, movies, games, and gradually become a breakout application. However, the Inscription category cast using the Ordinals protocol has poor programmability and may not give birth to too many creative NFT applications. It may not have good scalability in composable NFTs compared to other NFT ecosystems with EVM Turing-complete chains.
Despite this, the market for Ordinals has seen some growth in recent years. In fact, some investors believe that Ordinals have the potential to become the next big thing in the world of digital assets. Bitcoin has the best liquidity and is held by most wealthy people. Bitcoin believers tend to be more inclined to participate in the Bitcoin ecosystem, so Inscriptions issued based on Ordinals may capture a large amount of funds and form an independent ecosystem with trading volume and TVL surpassing other NFT categories, as it has scarcity and permanent decentralization properties like BTC.
However, it remains to be seen whether the market for Ordinals will experience the same explosive growth as NFTs. Factors such as market saturation, regulatory changes, and the overall state of the digital asset market could all play a role in determining the future of Ordinals. The potential applications for Ordinals are vast, but the market is still in its infancy. Only time will tell whether Ordinals will become the next big thing in the world of digital assets.
Another factor that could influence the growth of the Ordinals market is the level of interest from collectors and investors. NFTs became popular in part because of the excitement generated by high-profile sales and celebrity endorsements. If similar interest can be generated for Ordinals, it could help to drive growth in the market.
However, there are also some potential limitations to the Ordinals market that could impact its growth. For example, the fact that Ordinals are primarily represented by numbers may make them less appealing to some collectors and investors who are looking for visually striking digital assets. Additionally, the relatively low level of awareness and understanding of Ordinals within the broader public could limit their appeal.
Despite these challenges, there are some reasons to be optimistic about the potential growth of the Ordinals market. One key advantage that Ordinals have over NFTs is their versatility. While NFTs are primarily used for representing digital art and collectibles, Ordinals can be used for a wide range of purposes. This means that there is a potentially much larger market for Ordinals than there is for NFTs.
Overall, the growth of the Ordinals market is difficult to predict. While there are some factors that could limit its growth, there are also many potential use cases for Ordinals that could help to drive demand. As the market for digital assets continues to evolve and mature, it will be interesting to see how Ordinals fit into the broader landscape.