The main crypto events of August

The main crypto events of August

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Author: Robert Strickland (crypto-journalist)
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Litecoin halving and the ETHToronto conference. The main events of August

Several important events for cryptocurrencies will take place in August, including the Litecoin halving


This month, several events will take place at once, which may affect both the value of individual cryptocurrencies and the market as a whole

 

  • Lido Finance (LDO) - ending support for Polkadot and Kusama

In March 2023, the MixBytes team, which develops the Lido Finance liquid stacking protocol, announced that from August 1, 2023, it will stop supporting the Polkadot and Kusama networks and close the stacking of their DOT and KSM tokens.

According to the developers, this decision was made due to the lack of liquidity in the Polkadot and Kusama networks, general macroeconomic factors, and the team's desire to focus on the Ethereum network. Lido Finance is a protocol for liquid cryptocurrency staking with its native LDO token. The LDO token is used for voting in the decentralized autonomous organization Lido DAO, which oversees the development of the Lido Finance project.

 

  • Litecoin (LTC) - Halving

On August 3, 2023, there will be a fourth reduction in the reward for a mined block of transactions on the Litecoin network. The reward will be reduced from 12.5 to 6.25 LTC. Since the Litecoin blockchain is a fork (a modified copy of the code) of Bitcoin, halving occurs every 840,000 blocks mined, which takes approximately four years.

The purpose of halving cryptocurrencies is to reduce the issuance of new coins, which in turn allows for a deflationary economic model. Litecoin's total issuance is 84 million LTC, and it is estimated that the last coin will be mined in 2142.

 

  • Optimism (OP) - Superhack Virtual Hackathon

Superhack hackathon with a total prize fund of $125 thousand will be held from August 4 to 18. The hackathon organizer - Optimism project - has provided a prize fund of $24 thousand, which will be distributed in four nominations. Cash prizes will also be awarded to winners in the nominations of such projects as Base, Worldcoin, ZORA, Hyperlane, The Garf, and Safe.

  • ETHToronto Conference - Toronto, Canada

The second ETHToronto Blockchain Community Conference will be held in Toronto, Canada from August 15-16, 2023. During the event, participants will be able to attend workshops, tutorials, present their projects to investors and more.

The conference also includes an online hackathon with a prize pool of $40,000. Anyone can attend the event either online or in person, admission is free.

 

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