Cryptocurrency

07/02/19 05:00 UTC-5

Bitcoin and Litecoin halving is a binary option from LedgerX

Bitcoin and Litecoin halving is a binary option from LedgerX
Bitcoin and Litecoin halving: hopes for price growth and a new LedgerX product

LedgerX, an American company, launched LedgerX Halving Contract (LXHC), a new derivative financial product for the Bitcoin network, in connection with halving. A new financial product is a binary option with fixed payouts. Owners of LTC tokens also expect a halving in 186 days.

On February 6th, LedgerX, a company regulated in the United States, announced the creation of a binary option for the Bitcoin network. According to the company, the option was created due to the soon halving of "digital gold". Payments will be fixed or equal to zero. The essence of the option – the rate at a time when the price for each new Bitcoin unit will be halved.

 

Planned decline in rewards for Bitcoin-block

Approximately every four years there is a so-called Bitcoin halving. This is a planned reduction in the amount of remuneration for each block of the chain found by miners. Halving occurs within the framework of the initially fixed emission of cryptocurrency. Characteristic features of a Bitcoin halving: exactly half the reward. The last time the remuneration decreased in 2016, when the reward for each unit decreased from 25 BTC to 12.5 BTC. According to information from analytical centers, 630,000 block will appear approximately on May 25 of the following year.

The creators of the LedgerX Halving Contract (LXHC) binary option commented on the new product: "Each participant in the option will receive a fixed reward if the next Bitcoin blockBitcoin Block
– is an element of the blockchain, a set of records of completed transactions in a cryptocurrency network.Details
, in which the reward for miners is reduced (block # 630,000), is extracted before a certain period. If it is obtained later, the contract will automatically be reset."

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Litecoin Halving – 186 days left

Today, not only owners of "digital gold" expect a planned halving, but Litecoin is on the verge of another reduction in remuneration. According to the Ambcrypto analytical center, Litecoin halving will occur in about 186 days.

Although binary options are not foreseen on this occasion, the owners of LTC tokens hope to increase the price of the coin. As practice has shown, the limited emission of cryptocurrency stimulates the growth of the value of the crypto-asset immediately after the next halving.

Recall that the cryptocurrency restricted emission system was first developed by Satoshi Nakamoto (the creator of Bitcoin). It is assumed that the halving was created to guarantee the growth of the price of coins and to ensure that the currency "does not exhaust itself". According to empirically obtained information, coins with emission restrictions grew actively in price in the first half of the year after halving. So, for example, BTC and LTC showed a steady growth after reducing the remuneration of miners.

Interesting in the section: Litecoin Cash, as ambiguous result of new fork

Bitcoin and Litecoin halving caused a binary option from LedgerX and hopes for a rise in the cryptocurrency rate. Although not all analysts are of the opinion that a reduction in remuneration may raise the rate. For example, analyst Glenn Goodman, previously known as a correspondent for the BBC and ITV, believes that the halving and the course have minimal correlation. According to his statements on Twitter, "the price, of course, can be higher, but this is only due to the expectations of the owners of cryptocurrency".

Editor: Pereyidenko Ihor

See also: "Philippines announces new cryptocurrency rules"

#cryptocurrency #blockchain #mining #BTC #LTC #Litecoin #Bitcoin #Lightcoin #halving #mining #LedgerXHalvingContract #LXHC #LedgerX

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