Bitcoin hash rate breaks records. We tell you what it means
The bitcoin hash rate (BTC) broke this July 4 the historical record set in the second half of June, reaching 74.54 TH / s. This is an iconic moment in the development of Bitcoin and here we will explain why.
According to statistics provided by the blockchain.com website, the Bitcoin hash rate has surpassed its previous historical maximum established just a few weeks ago. The hash rate or "hash rate" represents the unit of measurement of Bitcoin processing speed.
That is, the "hash rate" is the ability of the Bitcoin network to perform the complex mathematical operations that are necessary for its operation, at a higher hash rate, the higher the processing speed.
Every 10 TH / s is the equivalent of 10 trillion calculations per second, so the record speed of 74.54 TH / s would mean more than 74 trillion mathematical operations performed thanks to the Bitcoin network.
This figure is very important for the miners, since at a higher rate it will be easier for them to perform the mathematical operations, seal the block in the blockchain and therefore collect their reward. In addition, for Bitcoin users in general, a higher hash rate means that more resources would also be needed to attempt an attack against the network, so the use of the cryptocurrency becomes even more secure.
Although since then the hash rate has suffered a setback that has placed it at 60.35 TH / s, this figure continues to be an important advance after the so-called "crypto-winter", when the hash rate decreased for the first time in the history, reaching just 31.99 TH / s on December 2 of last year.
In general, this increase in the hash rate is a sign of the uptick in the interest around Bitcoin after the rise in the price occurred this year, which has made the mining of this cryptocurrency an attractive business again.
Student of International Studies, interested in issues of economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.
. (tagsToTranslate) Bitcoin (t) Hash (t) Mining
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