Litecoin Reaches All-Time High Hashrate, Difficulty Skyrockets

-Litecoin’s hashrate has recently reached an all-time high (ATH) of 798.43 terahash per second (TH/s).
-Litecoin’s difficulty also reached an all-time high this week, hitting 23,505,031.
-Viabtc is the top Litecoin mining pool with 192 TH/s, or 27% of the total Litecoin hashrate.

Litecoin (LTC) has seen a surge in computational power (hashrate) over the past 30 days, with the blockchain’s hashrate reaching an all-time high (ATH) of 798.43 terahash per second (TH/s) on Wednesday, Jan. 25, 2023, at block height 2,411,048. This is a significant increase from the 576 TH/s recorded on Dec. 28, 2022, representing a 38% surge in hashrate. This surge in hashrate has been accompanied by a corresponding rise in difficulty, which hit an all-time high of 23,505,031 the following day.

The increase in hashrate and difficulty reflects the growing popularity of the Litecoin blockchain, with its price also increasing by 34% against the U.S. dollar over the past 30 days. The top Litecoin mining pool is Viabtc, which is currently contributing 192 TH/s to the network, or 27% of the total hashrate. It is followed by F2pool (121 TH/s), Antpool (104 TH/s), (77 TH/s), and Binance (69 TH/s). All five Litecoin mining pools also participate in dogecoin (DOGE) merge mining through a process called auxiliary proof-of-work (AuxPoW).

The difficulty of the Litecoin network has seen an increase of 3.28% over the last week, 14.80% over the last 30 days, and 32.41% over the last three months. This increase in difficulty indicates that the network is becoming more secure, as miners are expending more computing power to process transactions.

As the hashrate and difficulty of Litecoin’s blockchain continues to rise, the network is becoming increasingly secure and reliable. This could lead to more adoption of the blockchain by users and businesses, as well as more investment in the cryptocurrency. With its current all-time high of 798 TH/s, Litecoin is just 202 TH/s away from reaching a single petahash per second (PH/s), which equates to 0.798 PH/s.