What is a Litecoin block halving event?

Block halving event happens every 4 years on

Litecoin blockchain. Litecoin's initial block reward was 50 LTC.

The halving is periodical and is programmed into Litecoin's code. Current Litecoin block reward is 12.5 LTC, after the halving, the block reward will be 6.25 LTC. Halving will end approximately by the year 2142.

Why was this done?

Conventional FIAT currencies allow governments or banks to print money and cause inflation.

In Litecoin's case, the total supply will be maxed out at 84,000,000 LTC. Printing extra money causes inflation, if there is no extra money printed, the value of the Litecoin should increase as the demand will rise (more people will start to use Litecoin) and supply will lower or stay flat (no more Litecoins are

"printed").

🔥🔥🔥🔥🔥🔥🔥🔥