The computing power of the Bitcoin network is greater than ever, as miners ramp up efforts ahead of the Bitcoin Halving.
The Bitcoin network’s hashrate reached an all-time high between 120-136 hashes per second.
Miners remain bullish long term ahead of the halving, despite the dip in the market.
The Bitcoin Halving is nearly upon us, and the Bitcoin network is bracing itself.
The network’s hash rate today reached an estimated all-time high of around 136 quintillion hashes per second, according to Blockchain.com, which monitors the metric. Other monitoring services like Bitcoin Info Charts put it at around 120 quintillion hashes, which would still indicate that it has almost tripled in the past year.
Bitcoin’s hash rate generally measures the estimated computational power dedicated to the Bitcoin network. This accounts for things such as mining, public and private key creation, and the validation of blocks on the network. Miners also protect the network: the higher the hash rate and the more miners, the less likely the network is susceptible to a hostile takeover through a 51-percent attack. Read More...