It represents the energy that miners on the Bitcoin blockchain spend to generate new bitcoins. hash ratereached an all-time high over the weekend.
Bitcoin’s first block excavated on January 3, 2009 The hash rate on the blockchain, as we enter the new year 207.53 EH/s reached the record level. Compared to the approx. 140 EH/s recorded on the first day of the previous year, this is an increase of more than 45% it corresponds.
The hash rate reflects the total processing power miners dedicate per second to produce new blocks on the blockchain. The high instantaneous processing power and therefore the hash rate makes that blockchain resistant to various attacks. more trustworthy makes it.
Bitcoin network in April 2021 to 190 EH/s The hash rate, which has risen to as high as 1, will be released in June 2021 after the bans imposed by China on cryptocurrency miners. to 57 EH/s had fallen.
The pressure exerted by China resulted in many miners immigrating to countries such as the USA and Kazakhstan. Hash rate on the first day of the new year By over 200 EH/s record-breaking, compared to the table formed in June 2021, approximately to a three-and-a-half-fold recovery pointing out.
With the improvement of the hash rate generating new bitcoin it’s getting harder and harder. Showing how much effort miners have to put into generating bitcoin difficulty level, after the most recent update of 24.2 trillion rising to the top, in May 2021 25 trillion dollars approached.
increase in difficulty, total revenue generated accompanied by an increase in the amount of According to data from The Block, bitcoin miners increased by about with 250% increase In total through 2021 more than $16 billion they earned income.