Litecoin, reached a notable milestone by setting a new record in network hashrate. Litecoin Foundation is excited to announce the milestone reached by gone. LTC has set a new ATH in the network hashrate, which is an indicator of the overall security of a blockchain network.
Koinfinans.com As we reported, mining hashrate is an important security measure. This is because the more hash (computational) power in the network, the greater its security and overall resistance to attacks.
Litecoin’s Network Security – Hashrate as an indicator of the overall security of a blockchain network:
August 2014 – 1 TH/s
August 2018 – 250+ TH/s
August 2022 – 500+ TH/s
August 2023 – 750+ TH/sLitecoin’s hashrate just hit an ATH of 1.1 PH/s. Probably nothing.
NEWS CONTINUES BELOW— Litecoin Foundation ⚡️ (@LTCFoundation) October 30, 2023
In August 2014, Litecoin hashrate reached only 1 TH/s. Four years later, in August 2018, the hashrate reached 250 TH/s. In August 2022, Litecoin hashrate doubled to 500 TH/s. As of August this year, the LTC hashrate has risen above 750 TH/s and currently the hashrate has reached an all-time high of 1.1 PH/s.
In early October, Litecoin celebrated its 12th anniversary by celebrating 12 years of zero downtime. During this time, the Litecoin network reached the milestone of 180 million transactions, highlighting the growth in its usage and increasing adoption in the market.
Despite the notable milestones the blockchain has reached, Litecoin’s price has consolidated in a range since August. The bulls’ attempts to break out of the range hit a snag at $72.45 on October 24.
altcoin Its price reversed gains and fell to $69.44 on a daily and weekly basis. Last week, on October 27, on-chain analytics firm Santiment reported that LTC address activity and whale transactions were increasing, reaching levels previously seen in June 2023.