I find it fascinating looking at these kinds of stats about DigiByte. Given it’s now been a year (Well, next week) since Odocrypt went live, I thought now was a good time to look back at the year in hashrates.
The down-side to being MultiAlgo and having MultiShield is the per-block difficulty adjustments. Sure, the default DigiStats graphs show you the daily amounts along with 60-min averages, but that doesn’t show the “bigger picture”:
Even taking the graph and looking back over the last 12 months, I would suggest the 60-minute average still doesn’t give us enough of an idea:
Instead we need to average it out even further to get a better idea with less “jumps” all over the show.
Now before we go any further, I’m converting the Difficulty, which is what all of these graphs show, in to a hashrate using the math:
D * 2**32 / 75
You can see based on the graph here we started around 500 million for the difficulty a year ago. If we convert that to hashrate with this formula we should get approx 25PH/s:
Now at present, this graph shows the difficulty averaging the last month around 3.2 billion. Again taking the above formula, we convert from a difficulty of 3200000000 to give us approx 183PH/s as of July 2020, up 7X from 25PH/s a year ago.
Not too shabby!
However SHA256 is only one aspect, let’s take a look at the rest, starting with Scrypt:
Scrypt difficulty was sitting around the 45k mark, now a little over 150k. This takes us from 2.57TH/s up to 8.58TH/s, a 3.3X increase in hashrate over the last 12 months.
Again not too bad.
Skein difficulty is up next:
The difficulty average started around 3.5 million, dipping a bit, before increasing up to 9.5 million in January where it’s mostly stayed close to. This takes us from 200TH/s to 544TH/s, a 2.7X increase.
This graph was the one I found most interesting, given the massive jump that occurred in the new year, seemingly out of the blue. I’m not entirely sure of the cause of this jump myself.
The Qubit hashrate has had some more recent growth:
Starting from a 2 million difficulty, it’s now bouncing just over 10 million. That takes us from around 114TH/s to 641TH/s, a 5.6X increase in the past year! Quite respectable.
Now, unfortuantely with Odocrypt, I only began tracking in October last year on the DigiStats website:
Difficulty was sitting around 50k for the most part, and although we’ve got up towards 500k recently we’ve mostly been a bit lower around the 350k mark.
Knowing that Odocrypt went live in Block 9112320, I’ve given it another 40320 blocks (1 week) to get settled in, and get an approx average from the blocks around there, the difficulty was still around 50–60k for the most part, so we’ll stick with 50k as the comparison despite not having completely accurate data readily available (I’m too lazy to go back and interrogate the chain completely).
This takes us from 2.8TH/s to 20TH/s, a 7.1X increase.
Not bad for 12 months worth!
It’s great to see overall that the additional hardware optimizations / improvements across all algos give us a genuine hashrate increase which couples nicely with an increase in security. During this last 12-month period the price of DigiByte has risen by approx 70% between the start / finish time periods, so naturally some aspects of additional hashrate will be coming from that, however I’m presuming that most of the increase is coming from hardware improvements more than anything.
Being MultiAlgo can make it more difficulty to get an immediate difficulty to compare against, so using an average as WhatToMine does over 24hr, 3 day & 7 day certainly gives us a better overview.
Some *very* healthy hashrate / difficulty growth all around which is fantastic to see. I can’t wait to see where things go over the next 12 months, especially if we bring in ProgPoW / RandomX!