The mean hash rate of the Bitcoin network has hit new all-time highs to mark the cryptocurrency's latest technical achievement, fresh data suggests.
Compiled by monitoring resource Glassnode, a new analysis of Bitcoin's historical hash rate shows that on Jan. 7, the mean value reached 119 quintillion hashes per second - its best ever at the time.
Hash rate refers to the amount of computing power miners are using to validate the Bitcoin blockchain.
A large hash rate can also be taken as a statement of the attractiveness of mining for participants.
Glassnode's reading derives from the one-day moving average hash rate calculation.
While the hash rate is impossible to measure exactly, the data supports other estimates showing the metric hit new records in recent weeks and months.
According to Glassnode, the mean hash rate low of 36 quintillion hashes per second - which formed the basis for recent growth - occurred in late April 2019.Difficulty set for another 6% surge.
This year Bitcoin has already exhibited multiple signs a bullish transformation is once again underway.
Alongside hash rate, commentators have highlighted increased trading activity among Bitcoin futures investors.
Anticipation has also been building around Bitcoin price action for the coming twelve months, with industry figures going on record to predict new all-time highs for BTC/USD before 2021.
It's Never Been Harder to Mine Bitcoin as Hash Rate Hits New Highs
Publicado en Jan 18, 2020
by Cointele | Publicado en Coinage
Coinage
Mencionado en este artÃculo
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.