Bitcoin Hash Rate Jumps To Sky As BTC Falls Below $25k

2022-6-14 16:00

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 are always more transactions with the buying and selling BTC when the price is up. With such a price surge, there will be more mining activities to mint more tokens to balance the liquidity.

Total Hash Rate of Bitcoin. Source: Blockchain.com

Related Reading | Bitcoin Weekly RSI Sets Record For Most Oversold In History, What Comes Next?

But the recent outturn of events has proved a deviation between the relationship between BTC price and hash rate. Despite the bearish market trend with BTC going below $25,000, its hash rate has drastically risen. Bitcoin hash rate has reportedly grown to a new all-time high of 231.428 ExaHash per second.

The network difficulty of Bitcoin follows similarly with the rise in its hash rate. It has created a formidable stance for BTC in its recent position at 30.283 trillion.

Bitcoin Records More Growth In Different Aspects

The new growth cuts across several BTC mining pools, including AntPool, Poolin, SlushPool, F2Pool, and ViaBTC. The highest part of the hash rate came from miners denoted as OTHERS.

Also, the BTC Lightning Network grew its capacity to 4,000 tokens. This is a network development that inculcates layer-2 (L2) technology. The present increase would facilitate cheaper and faster peer-to-peer (P2P) transactions on the network.

Bitcoin is currently staging more substantial traction for sailing through the general crypto price drop. As the bearish market almost blows off most crypto protocols, Bitcoin is gradually thickening its survival instincts.

The BTC ecosystem’s components collectively create a more favorable and sustainable core. There is consistency in the growing all-time high for its network capacity, hash rate, and network difficulty.

Suggested Reading | Crypto Markets Lose $100 Billion As Bitcoin Drops Below $26K – More Pain Ahead?

The network is also getting backing from developers, miners, and traders. So, the Bitcoin network could get the ranking as the most global secured blockchain. Another implication is that the Bitcoin network is still healthy and functioning correctly. By that, there’s the hope of a rebound from the ongoing bearish trend.

Bitcoin took a drastic fall on the day chart | Source: BTCUSD on TradingView

In a new development, TBD, a block subsidiary, has disclosed plans for building Web5. This new development would be a decentralized web solely for Bitcoin. The concept would emphasize the belief of Jack Dorsey, the founder, on getting more influence in internet evolution from BTC.

Featured image from BBC, chart from TradingView.com

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Giga Hash (GHS) на Currencies.ru

$ 0.0023182 (+0.32%)
Объем 24H $112
Изменеия 24h: 1.85 %, 7d: -6.50 %
Cегодня L: $0.0023182 - H: $0.0023182
Капитализация $298.854k Rank 99999
Доступно / Всего 128.916m GHS

rate hash btc bitcoin block verification all

Источник: newsbtc.com

rate hash → Результатов: 126


Survival of the fittest: A look at how hash rate tokens compete with existing mining products and services

If you are a cryptocurrency and blockchain industry professional, the most commonly heard term would be computing power or hash rate, which is a quantitative measure of the computing speed of a mininThe post Survival of the fittest: A look at how hash rate tokens compete with existing mining products and services appeared first on AMBCrypto.

2021-1-25 16:00


Хэшрейт сети биткоина вырос на 550% c прошлого года

Хэшрейт сети биткоина вырос на 550% c прошлого года и сейчас находится на отметке в 55 EH/s, сообщили аналитики LongHash. Сегодня в своем Twitter аналитическая компания LongHash опубликовала статистику мощности сети биткоина: Bitcoin's hash rate is holding steady at roughly 55,000,000 TH/s near all-time highs.

2018-10-24 21:09


Bitcoin Hash Rate has Increased by 550% in the Past Year Which shows the Network is Growing Stronger Than Thought

Although the Bitcoin market has been far from smooth, there are strong indications that the digital asset’s network may be getting stronger. According to Longhash, a blockchain data and news company, Bitcoin hash rate has seen an increase of 550% in the last twelve months bringing it to the nearly all time high of 55,000,0000 […] The post Bitcoin Hash Rate has Increased by 550% in the Past Year Which shows the Network is Growing Stronger Than Thought appeared first on ZyCrypto.

2018-10-25 20:04


Report Links 74% of Bitcoin Mining to China, Sees Threat to Network

Bitcoin, the world’s most sought-after cryptocurrency, could be at the wish and whim of Asia’s economic giant. A recent study titled “The Looming Threat of China: An Analysis of Chinese Influence on Bitcoin,” jointly researched by Princeton University and Florida International University researchers, suggests China’s mining scene has an overwhelming influence over Bitcoin, something that could invite network manipulation.

2018-10-11 00:29


Фото:

DevCon 4 Will Set the Stage for Ethereum’s Next Milestone: Constantinople

Ethereum is embracing the Constantinople milestone at the end of November 2018, after DevCon4 in Prague. Constantinople is the latest Ethereum release, introduced through a hard fork, that will include five Ethereum Improvement Proposals (EIPs):Bitwise shifting instructions (EIP 145) in the Ethereum Virtual Machine (EVM) allow for direct manipulation of bytes on the EVM layer.

2018-9-11 18:15


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Coinbase embraces Bitcoin Lightning network to speed up transactions

US-based crypto exchange Coinbase is finally integrating Bitcoin Lightning network after several promises by the exchange CEO Brian Armstrong. In an April 3 statement, Lightspark, a lightning network-based payment infrastructure provider, revealed that it was selected by the crypto exchange to facilitate the integration of Bitcoin Lightning Network.

Cyprus’ 2013 banking crisis was Bitcoin’s origin as a safe haven asset

Quick Take During the 2013 Cyprus financial crisis, Bitcoin’s reaction provided an early indication of its potential as a “risk-off” asset and alternative safe haven. The instability in Cyprus’s banking system was attributed to lax regulation within the sector and overextension among property developers, as reported by The Guardian.

Instant Settlement Series: The Gambling Industry

The fifth part in an article series by Ivan Makedonski from Breez on how Lightning's instant settlement finality can be a disruptive force fundamentally changing how different industries are organized.

What is the Lightning Network?  A Beginner’s Guide

What is the Lightning Network? Check out our Lightning Network introductory guide to get a better understanding of the off-chain transaction protocol. The post What is the Lightning Network?  A Beginner’s Guide appeared first on CoinCentral.

Bitcoin Lightning Network experiences capacity and channel surge

The Bitcoin ecosystem continually evolves, adapting to the demands of a growing user base and the challenges of scalability. A critical component in this evolution is the Lightning Network, a layer-2 solution designed to facilitate faster and more efficient Bitcoin transactions.