The computational power of the blockchain network Litecoin reached an all-time high (ATH) on Wednesday, January 25, 2023 with a block height of 2,411,048, reaching 798.43 terahashes/sec ( TH/s) was reached. Additionally, Litecoin’s difficulty also hit an all-time high this week, reaching 23,505,031 the next day.
Litecoin’s computing power increased 38% in 30 days
The computational power of the Litecoin (LTC) blockchain has increased 38% from 576 terahashes per second (TH/s) on December 28, 2022 to an all-time high of 798 TH/srecorded on January 25, 2023and a significant amount over the past 30 days. hash rates have been dedicated to the Litecoin network. Currently, on January 28, 2023, Litecoin’s hashrate is around 691 TH/s, 20% higher than last month’s hashrate. The price of Litecoin has also soared; the value of LTChas risen 34% against the USD over the past 30 days.
The highest hash rate in history, 798 tera hashes per second (TH/s), is roughly 202 TH/s away from 1 peta hash per second (PH/s), which equals 0.798 PH/s. Viabtc tops the Litecoin mining pool at192 TH/s. This corresponds to 27% of Litecoin’s overall hash rate. Following crypto mining pool Viabtc are F2pool (121 TH/s), Antpool (104 TH/s), Litecoinpool.org (77 TH/s), and Binance (69 TH/s). All five Litecoin mining pools also participate in Dogcoin (DOGE) merge mining through a process called Auxiliary Proof of Work (AuxPoW).
Litecoin is one of the first of the few proof-of-work (PoW) cryptocurrencies to halve its mining rewards. Because its network precedes protocols such as Bitcoin Cash (BCH), Bitcoin v (BSV), and Bitcoin (BTC).54} LTCThe LTC network will reduce its reward 12.5to 6.5; is expected to be reduced from LTCto 6.25 ; will be LTCon or about August 3, 2023; and will be LTCon or about August 3, 2023. Litecoin’s difficulty rose to 23.5 million on the 26th and is up 3.28% in the last three days. Like Bitcoin, Litecoin’s difficulty adjustment occurs every 2,016 blocks, butblocks are found at a rate of about 2.5 minutes per LTCper block.
This means that the difficulty adjustment for lite coin is retargeted every 3 days to keep block times constant. In the past month the difficulty level has increased 14.80% and in the last 90 days it has increased 32.41%. LTCis sinc losing much of its market dominance.