WebsCrypto
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
Facebook Twitter LinkedIn Telegram
WebsCryptoWebsCrypto
ADVERTISE
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
WebsCrypto
News

Litecoin Hashrate and Difficulty Reach New Highs

By Simon LawsonJanuary 30, 20232 Mins Read
Litecoin Hashrate and Difficulty Reach New Highs
Share
Facebook Twitter Telegram LinkedIn Reddit Email

Litecoin’s blockchain network reached a new level of computing power and difficulty on January 25, 2023. The network’s hash rate hit an all-time high of 798.43 terahashes per second (TH/s) at block 2,411,048, while its difficulty hit a new high of 23,505,031 the next day.

LTC Hashrate Climbs 38% in 30 Days

The hashrate dedicated to the Litecoin network has increased significantly over the past 30 days. Computing power climbed 38% from 576 terahashes per second (TH/s) on December 28, 2022 to 798 TH/s on January 25, 2023. As of January 28, 2023, Litecoin’s hash rate is 691 TH/s, which is 20% higher than the previous month. The increase in hashrate has also been accompanied by a 34% increase in LTC’s value against the USD over the past 30 days.

Litecoin mining pools lead the way

Viabtc is currently the largest Litecoin mining pool with 192 TH/s, accounting for 27% of Litecoin’s total computing power. Other top mining pools in the network include F2pool (121 TH/s), Antpool (104 TH/s), Litecoinpool.org (77 TH/s), and Binance (69 TH/s). The five mining pools also participate in merged mining of Dogecoin (DOGE) through Auxiliary Proof-of-Work (AuxPoW).

Litecoin Halving and Difficulty Adjustment

Litecoin is one of the first proof-of-work (PoW) cryptocurrencies to halve the mining reward, reducing it from 12.5 LTC to 6.25 LTC on or about August 3, 2023. The network’s difficulty increased to 23.5 million on Jan. 26 and has risen by 3.28% in the last three days. Difficulty is adjusted every 2,016 blocks, roughly every three days, to keep block times consistent. The difficulty has increased by 14.80% in the last month and by 32.41% in the past 90 days.

Related:  Study Reveals Top Countries Interested in Bitcoin: US and El Salvador Take the Lead

Litecoin’s Market Dominance and Popularity

Since its early days, Litecoin has lost most of its market dominance, having been the second-largest cryptocurrency by market capitalization at the end of January 2014, but now ranks 17th. Interest in cryptocurrencies has also declined, with searches for “litecoin” dropping from a score of 100 in December 2017 to 3 today, according to the data. However, interest in cryptocurrencies has rebounded since late 2020 and has surged throughout 2021, with Nigeria, the Netherlands, the Czech Republic, the United States, and Slovenia seeing the most interest.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Binance Blockchain Crypto Cryptocurrency Dogecoin Market
Related News

Crackdown on Crypto Crime: UK Sets Out Plans

Aspen Digital Appoints Elliot Andrews as CEO

SBF Pleads Not Guilty to All 13 Counts

Report: Cryptocurrency Donations Will Exceed $10 Billion in Ten Years

India to Collect Over $19.2 Million in Cryptocurrency Taxes in FY 2023

Mike Novogratz: Despite U.S. Regulations, Cryptocurrency Markets Have Been Strong This Year

The Latest
News April 1, 2023
Crackdown on Crypto Crime: UK Sets Out Plans
Business April 1, 2023
Aspen Digital Appoints Elliot Andrews as CEO
News March 31, 2023
SBF Pleads Not Guilty to All 13 Counts
News March 30, 2023
Report: Cryptocurrency Donations Will Exceed $10 Billion in Ten Years
News March 30, 2023
India to Collect Over $19.2 Million in Cryptocurrency Taxes in FY 2023
Block 3000

WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

Facebook Twitter LinkedIn Telegram RSS
Categories
  • News
  • Markets
  • Business
  • Markets
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Tags
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Regulation
  • Policy
About
  • About Us
  • Contact Us
  • Advertise
  • Crypto Prices
  • Privacy Policy
  • Terms of Service
© 2023 WebsCrypto.

Type above and press Enter to search. Press Esc to cancel.