Reward-Drop ETA date: 18 Aug 2019 13:36:11 Litecoin's block mining reward halves every 840,000 blocks, the coin reward will decrease from 25 to 12.5 coins.You can watch an educational video by the Litecoin Association explaining it in more detail below:Litecoin Segregated Witness (SegWit) activation appears to be creeping closer as BW mining pool mines its first SegWit block.The altcoin’s fortunes have increased dramatically in recent weeks on speculation SegWit would begin, despite allegations of sabotage by certain community members.Creator Charlie Lee broadcast the BW event via Twitter on Tuesday.BW just mined their first SegWit-signaling block!Thanks @www_bw_com for the support!From all Litecoin users, miners, and traders./lYarjQmr6Y — Charlie Lee (@SatoshiLite) April 12, 2017 BW controls around 6.6 percent of mining power for Litecoin, meaning that its signaling of SegWit would push overall mining support over the 75 percent boundary needed for full activation.The figure currently stands at just under 74 percent.

Lee had previously appealed to Litecoin users to facilitate a user-activated soft fork (UASF) after rumors appeared that anti-SegWit miners were deliberately halting its progress.In Bitcoin’s SegWit process, meanwhile, it appears that global corporation Microsoft is notionally also behind a UASF.In a tweet on Tuesday, the head of decentralized identity Daniel Buchner said that “by default, all (Bitcoin) full nodes and clients used in Microsoft's open source decentralized identity implementations will signal” for it.By default, all #Bitcoin full nodes and clients used in Microsoft's open source decentralized identity implementations will signal for #UASF — Daniel Ƀ (@csuwildcat) April 11, 2017 Buchner had issued a thinly-veiled warning to Bitcoin Unlimited supporters against SegWit at the end of March."To the BU folks threatening a 51% attack: Imagine a decentralized identity client, running an SPV that blocks BU, shipping to 1 billion PCs,” he wrote.In traditional fiat money systems, governments simply print more money when they need to.

But in bitcoin, money isn’t printed at all – it is discovered.Computers around the world ‘mine’ for coins by competing with each other.People are sending bitcoins to each other over the bitcoin network all the time, but unless someone keeps a record of all these transactions, no-one would be able to keep track of who had paid what.The bitcoin network deals with this by collecting all of the transactions made during a set period into a list, called a block.It’s the miners’ job to confirm those transactions, and write them into a general ledger.This general ledger is a long list of blocks, known as the 'blockchain'.It can be used to explore any transaction made between any bitcoin addresses, at any point on the network.Whenever a new block of transactions is created, it is added to the blockchain, creating an increasingly lengthy list of all the transactions that ever took place on the bitcoin network.A constantly updated copy of the block is given to everyone who participates, so that they know what is going on.

But a general ledger has to be trusted, and all of this is held digitally.How can we be sure that the blockchain stays intact, and is never tampered with?This is where the miners come in.When a block of transactions is created, miners put it through a process.They take the information in the block, and apply a mathematical formula to it, turning it into something else.bitcoin zar priceThat something else is a far shorter, seemingly random sequence of letters and numbers known as a hash.litecoin wallet with minerThis hash is stored along with the block, at the end of the blockchain at that point in time.bitcoin luxury marketplaceHashes have some interesting properties.psc in bitcoin

It’s easy to produce a hash from a collection of data like a bitcoin block, but it’s practically impossible to work out what the data was just by looking at the hash.And while it is very easy to produce a hash from a large amount of data, each hash is unique.If you change just one character in a bitcoin block, its hash will change completely.Miners don’t just use the transactions in a block to generate a hash.bitcoin demographicsSome other pieces of data are used too.acheter bitcoin euroOne of these pieces of data is the hash of the last block stored in the blockchain.bitcoin home income kitBecause each block’s hash is produced using the hash of the block before it, it becomes a digital version of a wax seal.bitcoin precio salida

It confirms that this block – and every block after it – is legitimate, because if you tampered with it, everyone would know.If you tried to fake a transaction by changing a block that had already been stored in the blockchain, that block’s hash would change.If someone checked the block’s authenticity by running the hashing function on it, they’d find that the hash was different from the one already stored along with that block in the blockchain.ethereum 1000 priceThe block would be instantly spotted as a fake.Because each block’s hash is used to help produce the hash of the next block in the chain, tampering with a block would also make the subsequent block’s hash wrong too.That would continue all the way down the chain, throwing everything out of whack.So, that’s how miners ‘seal off’ a block.They all compete with each other to do this, using software written specifically to mine blocks.Every time someone successfully creates a hash, they get a reward of 25 bitcoins, the blockchain is updated, and everyone on the network hears about it.

That’s the incentive to keep mining, and keep the transactions working.The problem is that it’s very easy to produce a hash from a collection of data.Computers are really good at this.The bitcoin network has to make it more difficult, otherwise everyone would be hashing hundreds of transaction blocks each second, and all of the bitcoins would be mined in minutes.The bitcoin protocol deliberately makes it more difficult, by introducing something called ‘proof of work’.The bitcoin protocol won’t just accept any old hash.It demands that a block’s hash has to look a certain way; it must have a certain number of zeroes at the start.There’s no way of telling what a hash is going to look like before you produce it, and as soon as you include a new piece of data in the mix, the hash will be totally different.Miners aren’t supposed to meddle with the transaction data in a block, but they must change the data they’re using to create a different hash.They do this using another, random piece of data called a ‘nonce’.