{"id":17023,"date":"2023-01-28T16:21:28","date_gmt":"2023-01-28T16:21:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/litecoins-hashrate-reaches-all-time-high-difficulty-follows-suit-altcoins-bitcoin-news\/"},"modified":"2023-01-28T16:21:28","modified_gmt":"2023-01-28T16:21:28","slug":"litecoins-hashrate-reaches-all-time-high-difficulty-follows-suit-altcoins-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/litecoins-hashrate-reaches-all-time-high-difficulty-follows-suit-altcoins-bitcoin-news\/","title":{"rendered":"Litecoin’s Hashrate Reaches All-Time High, Difficulty Follows Suit \u2013 Altcoins Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The blockchain network Litecoin\u2019s computational power 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). In addition, Litecoin\u2019s difficulty also reached an all-time high this week, hitting 23,505,031 the following day.<\/strong><\/p>\n

Litecoin\u2019s Computational Power Climbs 38% in 30 Days<\/h2>\n

A significant amount of hashrate has been dedicated to the Litecoin (LTC<\/a>) network over the last 30 days as the blockchain\u2019s computational power climbed 38% higher from 576 terahash per second (TH\/s) on Dec. 28, 2022, to the all-time high of 798 TH\/s<\/a> recorded on Jan. 25, 2023. Currently, Litecoin\u2019s hashrate on Jan. 28, 2023, is around 691 TH\/s, which is 20% higher than the hashrate last month. Litecoin\u2019s price has also been climbing higher as LTC<\/a>\u2019s value increased by 34% against the U.S. dollar in the past 30 days.<\/p>\n

\"Litecoin's
On Jan. 25, 2023, LTC<\/a>\u2019s hashrate tapped an all-time high of around 798 TH\/s, and the following day, LTC<\/a>\u2019s difficulty jumped to 23.50 million.<\/figcaption><\/figure>\n

The all-time high hashrate of 798 terahash per second (TH\/s) is roughly 202 TH\/s away from a single petahash per second (PH\/s), which equates to 0.798 PH\/s. Viabtc is the top Litecoin mining pool with 192 TH\/s<\/a>, or 27% of the total Litecoin hashrate. The crypto mining pool 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).<\/p>\n

\"Litecoin's
Over the last week, LTC<\/a>\u2019s difficultly jumped 3.28%, in 30 days it increased 14.80%, and over the last three months it increased 32.41%.<\/figcaption><\/figure>\n

Litecoin will be the first of a few proof-of-work (PoW) cryptocurrencies to halve its mining reward<\/a>, as its network precedes protocols like Bitcoin Cash (BCH<\/a>), Bitcoinsv (BSV<\/a>), and Bitcoin (BTC<\/a>). The LTC<\/a> network is expected to reduce its reward from 12.5 LTC<\/a> to 6.25 LTC<\/a> on or around Aug. 3, 2023. Litecoin\u2019s difficulty increased to 23.50 million on Jan. 26, and it was 3.28% higher over the last three days. Like Bitcoin, Litecoin\u2019s difficulty adjustment occurs every 2,016 blocks, but LTC<\/a> blocks are discovered at a rate of about 2.5 minutes per block.<\/p>\n

\"Litecoin's
Worldwide Google Trends data for the search term \u201cLitecoin\u201d on Jan. 28, 2023.<\/figcaption><\/figure>\n

This means Litecoin\u2019s difficulty adjustment retargets every three days to keep the block time at a consistent rate. In the last month, the difficulty increased by 14.80%, and it rose 32.41% in the last 90 days. LTC<\/a> has lost much of its market dominance since its early days, as it was once the second-largest cryptocurrency<\/a> by market capitalization at the end of Jan. 2014. By the next year, around the same time, it was knocked down to the third-largest cryptocurrency<\/a> by market cap. In the years following, LTC<\/a> has gradually dropped to its current 17th position.<\/p>\n

Interest in LTC<\/a> has also dropped since 2013, as data<\/a> from Google Trends (GT) indicates that, out of a score from 1-100, the search term \u201cLitecoin\u201d reached a score of 6 in 2013. In Dec. 2017, the term reached the highest score of 100, but today the score is half of what it was in 2013, at 3. GT data further shows that the search term \u201cLitecoin\u201d saw a rebound at the end of 2020, and a much larger spike throughout 2021. Most interest in Litecoin comes from Nigeria, the Netherlands, Czechia, the United States, and Slovenia.<\/p>\n

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All time high<\/a>, Antpool<\/a>, Binance<\/a>, Bitcoin<\/a>, Blockchain<\/a>, computational power<\/a>, crypto mining pool<\/a>, Cryptocurrency<\/a>, difficulty<\/a>, F2Pool<\/a>, Google trends<\/a>, Halving<\/a>, Hashrate<\/a>, litecoin<\/a>, litecoin (LTC)<\/a>, Litecoin interest<\/a>, Litecoinpool.org<\/a>, LTC mining<\/a>, LTC network<\/a>, Market Capitalization<\/a>, Mining Reward<\/a>, network<\/a>, Proof of Work<\/a>, terahash per second<\/a>, ViaBTC<\/a><\/div>\n<\/div>\n

What do you think the future holds for the Litecoin network as it approaches its next mining reward halving in August 2023? Share your thoughts and predictions in the comments below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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