Litecoin network hashrate - Scrypt ⛏️ | minerstat (2024)

FAQs

What is the hash rate of LTC network? ›

The current Litecoin hashrate is 1.09 PH/s, representing the global Litecoin network hashrate with a mining difficulty of 37.43 M at block height 2,728,220. View the Litecoin hashrate chart for current and all time Litecoin historical hashrates.

As of Tuesday, July 30, 2024, it would take 20.7 days to mine 1 Litecoin at the current Litecoin difficulty level along with the mining hashrate and block reward; a Litecoin mining hashrate of 14,400.00 MH/s consuming 3,950.00 watts of power at $0.10 per kWh, and a block reward of 6.25 LTC.

How fast is Litecoin? Litecoin's transaction processing speed, on the other hand, is 54 per second—and new blocks on the Litecoin blockchain can be created about every 2.5 minutes.

The current LTC difficulty is 37.43 M at block 2,728,997, resulting in a Litecoin mining difficulty increase of 0.00% in the last 24 hours. The Litecoin difficulty chart plots the Litecoin difficulty target over time and the current Litecoin difficulty (LTC diff) target.

A good hashrate has a corresponding mining difficulty level that allows miners to find a hash within 10 minutes. Ten minutes is the standard time for block generation on bitcoin's blockchain.

How High Can LTC Go? It depends on market forces. Long-term bullish predictions put the Litecoin price above $1,000, however, this will depend on a variety of important factors.

The Litecoin Miner L7 can mine at 9.5 GH/s (gigahashes per second, or 9.5 billion hashes per second), while a CPU generally mines in thousands of hashes per second (KH/s). 2 A Litecoin mining pool can produce hundreds of trillions of hashes per second.

Litecoin transactions are typically faster than Bitcoin transactions. Litecoin's block generation time is approximately 2.5 minutes, while Bitcoin's is around 10 minutes. This means that Litecoin transactions can be confirmed more quickly, making it a popular choice for those who value faster transaction speeds.

Will LTC bounce back? ›

Our most recent Litecoin price forecast indicates that its value will increase by 2.33% and reach $73.35 by July 30, 2024. Our technical indicators signal about the Bearish Bullish 30% market sentiment on Litecoin, while the Fear & Greed Index is displaying a score of 71 (Greed).

Scrypt Proof-of-Work Algorithm

Unlike Bitcoin, which uses the SHA-256 PoW hashing algorithm, Litecoin uses the less resource-intensive Scrypt hashing algorithm. Lee used Scrypt to make large-scale, custom-built hardware attacks on the currency more difficult.

Compatibility of ASICs and Scrypt

The Litecoin developers first introduced the Scrypt hashing algorithm to prevent what is known as Application-Specific Integrated Circuits from being able to conduct mining on the Litecoin network. Users usually have three options when mining cryptocurrencies: CPU, GPU, or ASIC miner.