Bitcoin network hits record-breaking 551 EH/s hash rate as sixth straight difficulty increase looms

2023-11-20 13:55

Quick Take

The midway point in the current difficulty epoch, set to adjust on Nov. 26, paints a picture of robust growth and resilience for the network. Current projections suggest a positive upward adjustment of the difficulty level by 3.77%, continuing the positive adjustments seen over the last five adjustments.

The network recorded a record-breaking one-day hash rate of 551 exahashes per second (EH/s) – the highest ever observed. This indicates an escalating level of computational power employed in the network, demonstrating the increasing popularity and, by extension, the network’s security. It’s worth noting that this surge in hash rate and the expected positive difficulty adjustment are indelibly intertwined, as both are indicators and facilitators of the network’s stability and growth.

With these milestones, the network is setting up for what could be its sixth consecutive positive adjustment, underscoring a solid phase of sustained growth.

Hash Rate: (Source: Glassnode)

The post Bitcoin network hits record-breaking 551 EH/s hash rate as sixth straight difficulty increase looms appeared first on CryptoSlate.

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