What's Hot

    Circle Launches EURC on Stellar Network

    September 28, 2023

    Gemini Allocates $24 Million for Indian Expansion

    September 28, 2023

    Kraken Secures EMI License from Ireland and Spain

    September 28, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      Circle Launches EURC on Stellar Network

      News September 28, 2023
      Recent

      Circle Launches EURC on Stellar Network

      September 28, 2023

      Gemini Allocates $24 Million for Indian Expansion

      September 28, 2023

      Kraken Secures EMI License from Ireland and Spain

      September 28, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Litecoin Community Testing Standard for NFTs
    News

    Litecoin Community Testing Standard for NFTs

    Anietie DavidBy Anietie DavidMay 2, 2023Updated:May 2, 2023No Comments2 Mins Read
    Litecoin Community Testing Standard for NFTs
    Image from Unsplash
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Members of the Litecoin community are testing an LTC-20 standard for fungibility. The token is now simply an experiment, but it has the potential to become more.

    The Litecoin community has chosen to propose a test standard for LTC-20 and has created a test token to that end. The standard is a branch of the BRC-20 standard, and it is described by the community as “just a fun experimental standard demonstrating that you can create off-chain balance states with inscriptions.”

    The standard is being built on top of the Litecoin Ordinals Protocols, with a quantity of 84 million coins. The BRC-20 standard mentioned is a token standard for an experimental fungible token constructed with Ordinals and inscriptions and kept on the Bitcoin base chain.

    Litecoin Punks said on Twitter that the first LTC-20 is roughly 20% mined. Each punk bearer has received 4,000 inscriptions. It’s uncertain if this will result in a significant change, but the community is enthusiastic regardless. Litecoin is one of the oldest cryptocurrencies on the market, and it still wields considerable power.

    The goal is to determine whether fungibility has a place on the Litecoin network. The experiment’s purpose is to deploy LTC-20 tokens, mint a specific number of tokens, and transfer a certain number of tokens. The documentation goes into great depth on all of the functions involved.

    Litecoin Halving Around the Corner

    Since the start of 2023, the protocol has seen a number of notable developments. The network has fewer than 100 days until its third halving, which cuts block rewards while generally increasing token price.

    LTC Halving Countdown
    Image from OKLINK

    BIT Mining Limited recently showcased a new LTC mining unit. When combined with the halving, this might be quite beneficial to LTC miners. However, the price of LTC has been falling as miners sell large amounts of coins.

    Blockchain Crypto Mining Cryptocurrency Litecoin
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleBinance Set to Start Operations in Japan After June
    Next Article JPMorgan to Purchase First Republic Bank
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    Circle Launches EURC on Stellar Network

    September 28, 2023

    Gemini Allocates $24 Million for Indian Expansion

    September 28, 2023

    Kraken Secures EMI License from Ireland and Spain

    September 28, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    Hong Kong Monetary Authority (HKMA) Issues Warning on Misleading Crypto Banking Claims

    September 18, 2023

    Report Shows that 99% of Nigerians are Crypto Aware

    September 4, 2023

    Hong Kong Report Reveals Positive Impact of Bond Tokenization on Market

    August 26, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.