According to Blockchain.com data, the bitrate network's hash rate has recently climbed to a record high of 69 million TH/s (ATH) – a figure that is 10 times the number of sand on Earth.
Image source: pixabay
- Does economic uncertainty increase demand for gold and bitcoin?
- Bitcoin suffers from the "siege of siege", and there are several incidents outside the collapse of the international market that are preventing Bitcoin from return
- US Treasury Secretary: No longer talk about Bitcoin in 10 years, guarantee not to buy Bitcoin
- Analyst: In the short term, the rising space of cryptocurrencies such as BTC, ETH and BNB may be limited.
- Bitcoin computing power broke the first hundred EH/s, gold mining is at the time?
- Venezuela mining excavation
Hash per second is more than the earth's sand
According to the data from the blockchain website, the computing power of the Bitcoin network reached 6.9 trillion hashes per second (69 million TH/s). Computing power refers to the computing power used to protect the network.
Since more than 60 million TH/sec in mid-June 2019, Bitcoin computing power has been growing. This growth is in line with the trend established in 2019, as the technical fundamentals of Bitcoin have been rising since the decline in late 2018.
The Bitcoin network computing power is now more than twice as much as in December 2018, and has increased by about 900% in the past two years. The difficulty of mining has reached the highest level in history, further enhancing the robustness and security of the network.
In order to illustrate the current huge computing power of the Bitcoin network, please consider the following points. According to a research team at the University of Hawaii, there are about 750 billion billion sand grains on Earth.
As Kevin Rooke said in a tweet published on Sunday (June 30, 2019), "the bitcoin network has a hash number per second that is 10 times the number of sand on Earth. ”
“If 69 quintillion is an incomprehensible number, then consider… There are about 7 quintillion grains of sand on Earth. Every second, the bitcoin network performs nearly 10 times as many hashes of sand as there are on Earth. ""
Even more impressive is that about three-quarters of Bitcoin's computing power is provided by renewable energy – a fact that is often overlooked by Bitcoin mining critics.
Bitcoin Ministry of Defense
Bitcoin does not require a gunman to protect it – economics professor Saifedean Ammous raised this famous idea as early as 2018. Anthony Pompliano of Morgan Creek Digital also expressed similar views in the "Off the Chain" program on Monday.
Bitcoin's Department of Defense (DoD) has no nuclear arsenal. Instead, the highest ranked cryptocurrency has inherent network stability. According to Pompliano:
The Bitcoin Department of Defense has no bullets, no bombs, no ships, no fighters, and no soldiers. It has thousands of volunteers and millions of computers working together around the world to ensure there is no single point of failure.
Given the optimism that exists in the market, it is not difficult to imagine that more computing power will be added to the network. It is now the rainy season in Sichuan Province, China, so there may be more miners flocking there and using cheaper hydropower.
Bitcoin's computing power is 10 times that of sand on the earth. Who can say that this number will not exceed the estimated 1000 quintillion stars in the universe?