Litecoin Mining Difficulty Is Hitting New Highs

The mining difficulty for Litecoin has reached a new high, hitting a little under 18 million hashes.

The difficulty of mining Litecoin is rising, which suggests that miners are competing more fiercely for rewards.

Miners got 50 LTC for successfully mining a block when Litecoin first debuted in 2011. For every 840,000 blocks, the incentive is reduced by half. In 2023, the third halving will occur, bringing the current 12.5 LTC subsidy down to 6.25 LTC.

The average number of hashes needed to solve a block is known as the mining difficulty. To discover a hash lower than the goal specified by the network’s mining algorithm, LTC miners compete by producing random hashes.

The winner of this computationally demanding lottery receives a payout and the ability to add a new block to the Litecoin network.

At the time of writing, LTC is trading at $68.68.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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