Why Bitcoin Is Close to a Record-Breaking 3 Exahashes Of Processing Power
The bitcoin hash rate currently nears 3 exahashes, representing an all-time high for the processing power of the Bitcoin network. The escalating hash rate concurs with continuing social media reports that Beijing-based Bitmain Technologies Limited, a company which supplies bitcoin mining equipment, suffers consistent supply shortages due to high demand.....
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Since the dawn of digital currency we have always been bothered about the monetary value associated with it. A lot of processing power and electricity is being spent on mining to process the transactions happening over the bitcoin network. Miners have indulged in the process of finding sequences of low hash value with the sole purpose of gaining miner's fee. Bitcoin value is said to be related to the network size and the number of transactions that happen over the network. Now, what if the same processing power, or even a part of the processing power is diverted for a similar mining....
The bitcoin mining company increased its ASIC fleet by 4,000 machines, driving up its hash rate and delivering a record-breaking revenue of $3.8 million.
Bitcoin price is back at levels from earlier in the year, but has yet to set a new all-time high. Last night’s weekly candle close still came with a new broken record for price: the highest weekly candle close in the cryptocurrency’s history. Will the bullish weekly close lead to new highs? If so, will this be the culmination of the bull run? And if not, does that mean a bear market instead? A new record has been set | Source: BTCUSD on TradingView.com Bitcoin Price Sets New Record For Highest Weekly Close Ever According to TradingView’s BTCUSD Index, the weekly....
The bitcoin network is growing, so are the number of transactions. All bitcoin transactions are recorded in a ledger, in this case a decentralized one called Blockchain. The transactions happening over blockchain needs to be verified and miners are the ones who contribute the processing power for the algorithm to verify these transactions. In return miners receive rewards in the form of freshly minted bitcoin. As the bitcoin network grows, the amount of processing power required to decrypt the information on blockchain and verify transactions also increases. Which in turn means, the miners....
Press Release: With an ever-increasing demand for computing power, PORT Network launches the first dApp to merge both Cloud and Volunteer computing on the blockchain. 28th June 2021, Düsseldorf, Germany – The demand for increased computing power is growing at an exponential rate. Industries such as IoT, Pharmaceutical, AI, 3D Image Processing and Deep Learning […]