Bitcoin Network Breaks 10PH/s Hash Rate
If there was any doubt that that the bitcoin network is gaining traction, let this next story serve as food for thought. The bitcoin network hash rate has surpassed the 10 peta hash mark. For the ordinary Joe, what does this mean? Well, not too much aside from the fact that the bitcoin network has a huge amount of power behind it. For miners, this means a whole new level of difficulty, and a whole new array of bitcoin miners that trump previous iterations. It's not a stretch to say that not many of us expected the network to grow this rapidly, but it most certainly has. What will 2014 have....
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After the global hash rate of Bitcoin dropped to as low as 84 EH/s in June, the network has since recovered to sit at around 175 EH/s this week. The global hash rate of the Bitcoin network tanked to as low as 84 exahashes per second (EH/s) at the start of June following the Chinese government’s crackdown on the crypto mining sector.According to Blockchain.com, the global hash rate has increased by 108% since June, with the Bitcoin network performing at a rolling seven-day average of 175 EH/s as of Wednesday. The figure is roughly 3% shy of peak levels of 180 EH/s seen at the height of the....
The Bitcoin network hash power is at an all-time high as the spot price looks to breach the $36,000 price mark for the first time. The Bitcoin (BTC) price is not the only metric seeing record numbers as the network hash rate has set a new all-time high.According to data from Blockchain.com, the estimated seven-day average Bitcoin hash rate is now at about 148 exahashes per second, or EH/s. This figure represents the amount of computing power expended by miners to secure the network every second.Bitcoin hash rate. Source: Blockchain.com Tweeting on Jan. 1, on-chain analytics data provider....
Hash rate plays a vital role in every Proof-of-Work (PoW) blockchain. It measures the computational drive for all transaction verification and block additions to the network. Hence, the Bitcoin hash rate represents the number of people involved in BTC mining. As the number of miners increases, the hash rate will also increase. This results in maintaining the security and stability of the Bitcoin ecosystem. Many investors will consider hash rates before engaging in any project. Before now, the BTC price and hash rate have maintained a direct proportionality relation. This is because there....