Litecoin Takes Flight: Network Breaks All-Time High Hashrate Again
Litecoin has once again broken its all-time high in hashrate. On January 25th, 2023, the Litecoin network reached a new ATH at block 2,411,048 with a hashrate of 798.43 TH/s.
Figure: 1 Yearly Litecoin Network Hashrate
Figure: 2 Litecoin Hashrate All-Time High
This is a significant milestone for the Litecoin network, as it demonstrates the growing interest and support. 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 more secure and 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 mining network, which allows miners to simultaneously earn block rewards 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 precautionary measure to prevent a 51% attack.
Currently mining both Litecoin and Dogecoin simultaneously is one of the most profitable networks to mine. Even after Litecoin halving, mining Litecoin will be profitable, unlike many other highly competitive networks.
See the live networks stats at the CoinWarz site: