Unlike many modern cryptocurrencies, Litecoin was designed (like its big brother, Bitcoin) to be fair, decentralized and to provide ultimate utility to users. To this day, and ever since its creation in 2011, Litecoin was designed to only ever have:

• A maximum supply of 84 million; protecting against inflation
• As part of Litecoin's coin issuance, miners are rewarded a certain amount of litecoins whenever a block is produced (approximately every 2.5 minutes). When Litecoin first started, 50 litecoins per block were given as a reward to miners. After every 840,000 blocks are mined (approximately every 4 years), the block reward halves and will keep on halving until the block reward per block becomes 0 (approximately by year 2142). As of now, the block reward is 12.5 coins per block and will decrease to 6.25 coins per block post halving.
• Any change to these ‘rules’ requires all Litecoin participants (read: miners who support the Litecoin network) to agree by consensus to approve the change.

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