2018-7-15 15:27 |
Since last year the bitcoin hash rate — the amount of computing power used by bitcoin’s network of computers to create new coins — has soared as it rushes to catch up with the bitcoin price.
Despite Bitcoin’s 2018 price slump, the principal cryptocurrency’s hash rate continues to surge at an astonishing pace.
Although the value of Bitcoin has decreased by 53% since January 1st, 2018, the hash rate has increased 155% in the same time period.
For comparison, in 2013, the total hash rate of the Bitcoin networkon April 29, 2013, was 79.02 Th/s.
Another possibility explaining the increase in hash rate could be upcoming Bitcoin “halvening,” estimated to occur around May 25, 2020.
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