The hash rate of the Bitcoin network continues to increase, reaching 61.8 EH / s.
The hash rate is best described as the number of hash functions performed over a period of time. In most cases, this is measured in seconds. To get an idea of how much 61.8 EH / s is, we refer to the following conversions.
1 kH / s is 1,000 hashes per second
1 MH / s is 1,000,000 hashes per second
1 GH / s is 1,000,000,000 hashes per second.
1 TH / s is 1,000,000,000,000 hashes per second.
1 PH / s is 1,000,000,000,000 hashes per second.
1 EH / s is 1,000,000,000,000,000 per second
One of the strongest indicators of Bitcoin adoption is the uptrend of the hash rate, which can be attributed to two main factors: an increased number of miners and more efficient mining hardware.
Bitmain’s most powerful Bitcoin miner
For a long time, bitcoin mining was dominated by Bitmain’s Antminers, and as more and more people saw the opportunity to generate that much money, so did the competition, so even Kodak was trying to sell rentable Bitcoin miners.
Some of Bitmain’s biggest competitors are Bitfury and Halong Mining. Halong Mining’s newest miner, Dragonmint T1, hits 16 TH / s, which is an almost 20 percent higher hash rate than the 14 TH / s Antminer S9.
The hash rate of the Bitcoin network is one of the most important metrics from a fundamental perspective, which includes an assessment of an asset based on measurable factors. Another commonly used cryptocurrency fundamental analysis tool is NVT, which measures the transaction volume of a cryptocurrency. As more research and resources flow into the Bitcoin Mine Space, you can see that the whole Bitcoin network is getting more importance.
According to the Bitcoin energy consumption index, the Bitcoin network currently has an estimated power consumption of 73.12 TWh.
The hash rate of the Bitcoin network indicates a bright future for Bitcoin and other cryptocurrencies.
image by shutterstock
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