Yes, Litecoin does have a limit on the total supply of coins that can ever be created. Similar to Bitcoin, Litecoin's total supply is capped at 84 million coins. This limit is hardcoded into the Litecoin protocol and is part of what distinguishes Litecoin as a deflationary cryptocurrency.
Litecoin's creator, Charlie Lee, implemented this supply limit to mirror Bitcoin's cap of 21 million coins but with four times the maximum supply. This decision was made to ensure scarcity and to prevent inflationary pressures over time.
As of my last update, the total supply of Litecoin gradually increases over time through a process called mining. Miners validate transactions on the Litecoin network and are rewarded with newly minted Litecoins as an incentive for their efforts. However, the rate at which new Litecoins are created halves approximately every four years through a process known as halving. This halving mechanism ensures that the issuance of new Litecoins slows down over time until it eventually reaches the maximum supply of 84 million coins.
