GAW Miners' Hashlet Market Share : 15.47% of Litecoin Network Hash Rate Distribution？
We were wondering what the market share of GAW Miners' Hashlet series was in Litecoin mining, and decided to look up the Litecoin hashrate distribution to see how much of the network they occupied.
As of Oct. 21st, 2014, the latest Litecoin network total hashrate stands at 1,048 GH/s.
According to Zencloud, GAW Miners' Hashlet Prime's top 10 users had purchased 84.31 GH/s of hashrate as of today.
In addition to the Hashlet Prime holders, top 10 Hashlet Solo holders had purchased 45.45 GH/s.
In total, that's 84.31 GH/s + 45.45 GH/s = 129.76 GH/s.
So 20 top holders of Hashlets alone holds 129.76 GH/s. This is already 12.38% of the Litecoin network total.
These 20 holders only represent a small fraction of the entire customer base, probably less than 1%, suggesting that the total hashrate of Hashlets must be much larger. As to the exact amount of how large, we can only speculate on.
If the 80-20 rule applies, 129.76 GH/s could be 80% of the total, suggesting that the total could be 162.2 GH/s, with 32.44 GH/s coming from the remaining customers. At 162.2 GH/s, Hashlets would comprise of 15.48% of Litecoin's total network.
GAW Miners entered the market only very recently in August 2014. But for GAW to have captured a hypothetical 15.48% of the network in such a short period of time suggests demand for cloud mining is strong and hashrate centralization in Litecoin mining is happening quickly.