Data Shows Bitcoin Hashrate Has Grown Over 4 Trillion Percent Since 2009 – Mining Bitcoin News
Bitcoin’s hashrate crossed the 295 exahash/second (EH/s) range twice in the first two days of October after the network difficulty change six days ago on September 27. rice field. The network is now doing well at 229 EH/s, with block intervals faster than the 10 minute average. The network hashrate has increased exponentially from 6 million hashes per second to the recent 295 quintillion hashes per second as Bitcoin mining difficulty appears to reach an all-time high (ATH).
Bitcoin Network Hashrate and Difficulty Continue to Rise
Bitcoin’s computing power is much stronger than it was 13 years ago. The mining difficulty of the network reached an all-time high on September 13, 2022 at a block height of 753,984.
The mining difficulty has reached a height of about 32.05 trillion hashes, and it is likely that the network will adjust upwards on or around October 11, 2022.
Despite Bitcoin (BTC)’s low US dollar exchange rate and near-ATH difficulties, miners continue to increase their hash power. In fact, no computational network today has risen exponentially at the pace that the Bitcoin network’s hashrate has grown over the past decade.
As of January 19, 2009, Bitcoin’s hashrate was about 6 million hashes per second (6,290,000), and using the recent record of 295 EH/s, it would increase to 295,000,000,000,000,000,000 quintillion hashes per second (295,000,000,000,000,000,000). Equivalent. These two data points show that the network’s hashrate has increased by a whopping 4000 trillion percent in his 13 years.
The current block time is below the 10 minute average at 9:01 at the time of writing. Block intervals on October 1, 2022 are even faster with 7:95 minutes between blocks. Difficulty adjustments are more common than he was in the early days (before 2010) every two weeks.
Only on February 2, 2010, or a block height of 40,320, did the difficulty exceed 1 hash, and by September 18, 2017, with a block height of 485,856, the Bitcoin network difficulty exceeded 1 trillion hashes for the first time.
Similar to hashrate, Bitcoin mining difficulty has also risen exponentially, increasing by 3000 trillion percent since February 2, 2010, or in the last 4,626 days. As of this writing, over 756,888 Bitcoin blocks have been mined and 1,831,949.98 BTC remain mined.
What are your thoughts on the Bitcoin network’s exponential hashrate growth and the recent difficulty adjustment? Let us know what you think about this in the comments section below.
image credit: Shutterstock, Pixabay, Wiki Commons
Data Shows Bitcoin Hashrate Has Grown Over 4 Trillion Percent Since 2009 – Mining Bitcoin News
Source link Data Shows Bitcoin Hashrate Has Grown Over 4 Trillion Percent Since 2009 – Mining Bitcoin News
