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Litecoin's Network Shatters Records: Scrypt Hashrate Soars into the PetaHashes at 1.31 PH/s!

Litecoin has once again broken its all-time high in Scrypt hashrate. On January 28th, 2024, the Litecoin network reached a new ATH at block 2,623,137 with a hashrate of 1.31 PH/s. Now leveling up into the PetaHashes from TeraHashes.

Figure 1: Hashrate units

Figure 2: Scrypt Hashrate (linear scale)

Figure 3: Litecoin Hashrate All-Time High

The hashrate is a measure of the amount of computing power being used to mine Litecoin, and a higher hashrate generally means that the network is growing and becoming more secure (more mining devices coming online, continued investments in new Scrypt mining hardware, and it shows that litecoin remains 99% dominant in Scrypt total hashrate making it resistant to attacks).

In addition to benefiting the Litecoin network, a rise in Litecoin's hashrate can also have positive effects on Dogecoin. Both Litecoin and Dogecoin utilize the same Scrypt mining network, which allows miners to simultaneously earn block rewards and fees from both networks by "merge mining" them. This means that miners can support both networks without incurring additional energy costs. Dogecoin originally adopted merged mining with Litecoin in 2014 as a measure to prevent a 51% attack.

Figure 4: Litecoin and Dogecoin Scrypt hashrate



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