The reward for mining a block started at 50 bitcoin. That means that every ten minutes there were 50 new bitcoin in existence. Right now, every ten minutes there are 12.5 bitcoin mined into existence. Mining Reward. Miners are currently awarded with 12.5 new litecoins per block, an amount which gets halved roughly every 4 years (every 840,000 blocks). The Litecoin network is therefore scheduled to produce 84 million litecoins, which is 4 times as many currency units as Bitcoin. In August 2017, it experienced a “fork” due to a disagreement in the crypto community over the transactions’ speed, making room for a new currency: Bitcoin Cash. Bitcoin Cash got to third ... Bitcoin is definitely the most well-known cryptocurrency. It represents the first application of blockchain technology and has been increasingly prevalent in the news over the past few years. But cryptocurrencies don’t just end at bitcoin. Soon after it was introduced, other coins followed, including litecoin, namecoin, and swiftcoin. Bitcoin cash isn’t as popular as bitcoin, but it is still traded on many exchanges and often accepted as a form of payment. Other than bitcoin cash, here are a few more of the most well-known cryptocurrencies that may be of interest: Ethereum: This network was launched in 2015 and enables the creation of smart contracts. The name of the ...
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