Bitcoin computing power hit a record high of 69 million TH/s, which is 10 times the total amount of sand in the earth.

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.

Pocket-watch-3156771_1280

Image source: pixabay

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.

Screenshot 2019-07-02 Afternoon 6.26.22

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?

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Opinion

US SEC Chairman's pessimistic tone: Cryptocurrency businesses often non-compliant, filled with opacity and risk

During a Q&A session at the 27th annual Financial Markets Conference held by the Federal Reserve Bank of Atlanta ...

Policy

The Shocking Revelation: When Alameda Research Borrowed More Than Just a Cup of Sugar from FTX

Exclusive Leaked Audio from Alameda Research Meeting Exposes Caroline Ellison's Disclosure of Misuse of FTX Deposits ...

Blockchain

Bitfinex abolishes the minimum balance threshold of $10,000

Bitfinex, a Hong Kong-based cryptocurrency exchange, is now open to all traders as they canceled a minimum entry thre...

News

The currency circle "剿匪": the fund is checked, the exchange is full, and the "catch" has just begun.

Text | Pizza Recently, the People’s Daily, Xinhua News Agency, CCTV and other authoritative media have focused...

Blockchain

The game of the exchange after the BCHSV "belowed"

The representative of the BSV community, Craig S Wright (CSW), has always claimed to be Nakamoto, and the people in t...

Opinion

Vitalik said he has never sold ETH for personal gain, we took stock of his personal and charitable wallets

Even if Vitalik Buterin occasionally sells some ETH, it will not have a significant impact on the long-term developme...