by • The hashrate of Litecoin’s blockchain network reached an all-time high (ATH) on Wednesday, Jan. 25, 2023, at block height 2,411,048, reaching 798.43 TH/s.
• Litecoin’s difficulty also reached an all-time high this week, hitting 23,505,031 on Jan. 26, 2023.
• Viabtc is the top Litecoin mining pool with 192 TH/s, or 27% of the total Litecoin hashrate.
Litecoin’s blockchain network has reached a new milestone this week as its computational power, or hashrate, reached an all-time high (ATH) on Wednesday, Jan. 25, 2023, at block height 2,411,048, reaching 798.43 terahash per second (TH/s). This marks a significant increase of 38% in the last 30 days from 576 TH/s on Dec. 28, 2022. Furthermore, the difficulty of the Litecoin (LTC) network also reached an all-time high this week, hitting 23,505,031 the following day.
The increased hashrate of the Litecoin network is seen as a positive sign, further demonstrating the network’s security and growth in mining activity. The increase in hashrate is also likely linked to the recent uptick in the price of Litecoin, which has increased by 34% against the U.S. dollar in the past 30 days.
Leading the charge in the Litecoin mining pool is Viabtc, which currently holds 192 TH/s, or 27% of the total Litecoin hashrate. Viabtc is followed by F2pool (121 TH/s), Antpool (104 TH/s), Litecoinpool.org (77 TH/s), and Binance (69 TH/s), respectively. All five Litecoin mining pools also participate in dogecoin (DOGE) merge mining through a process called auxiliary proof-of-work (AuxPoW).
Over the last week, Litecoin’s difficulty jumped 3.28%, and in the past 30 days it has increased 14.80%. Over the last three months, the difficulty of the network has increased 32.41%. The fact that the network difficulty is increasing is a sign of the growing amount of miners and the amount of resources they are dedicating to the network.
As Litecoin’s hashrate continues to climb and its difficulty follows suit, it is likely that the network will continue to become more secure and reliable. The increased hashrate is a positive sign for the future of the cryptocurrency and will likely bring more users to the network. With an all-time high of 798 TH/s, the network is now just 202 TH/s away from a single petahash per second (PH/s), equating to 0.798 PH/s.
