{"id":411546,"date":"2020-01-19T15:31:03","date_gmt":"2020-01-19T15:31:03","guid":{"rendered":"https:\/\/wncen.com\/?p=411546"},"modified":"2024-06-11T13:40:43","modified_gmt":"2024-06-11T13:40:43","slug":"bitcoin-hash-rate-hit-a-new-ath-and-its-crucial-leading-up-to-halving","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-hash-rate-hit-a-new-ath-and-its-crucial-leading-up-to-halving\/","title":{"rendered":"Bitcoin Hash Rate Hit a New ATH, And It’s Crucial Leading Up to Halving"},"content":{"rendered":"

The Bitcoin network hash rate has reached an all-time high at 126 quintillion hashes per second<\/a>. By comparison, this time last year, the network was hashing at just 38 quintillion hashes per second.<\/p>\n

However, of more considerable significance is what this indicates. And that is a trend<\/a> towards increasing miner confidence. As such, concerns over miner capitulation, in the run-up to the halving, show few signs of credibility.<\/p>\n

\"Bitcoin
Bitcoin hash rate over 2 year period. (Source: bitinfocharts.com)<\/figcaption><\/figure>\n

Bitcoin Hash Rate Continues To Exceed Expectations<\/h2>\n

Following Bitcoin’s stellar form of late, news of the network’s hash rate reaching another all-time high should come as no surprise.<\/p>\n

Over the weekend, the average daily hash rate peaked at 126 quintillion hashes per second. Putting paid to any notion that miners are cautious about the coming halving this May.<\/p>\n

Hash rate is a term that refers to processing power on the network. As Bitcoins get mined, transactions need to be “hashed” before being added on to the blockchain ledger.<\/p>\n

Every one of these hashes is created by successfully completing a complex mathematical puzzle<\/a>.<\/p>\n

The hash rate is a measure of how many times the network can attempt to complete this puzzle every second.<\/p>\n

And so, a high hash rate indicates good network health, as well as being a metric of how secure the network is. This is because hackers would struggle to control more than half of the Bitcoin network, to perform a 51% attack<\/a>, when the hash rate is so high.<\/p>\n

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Bitcoin hashrate is at an all-time high.<\/p>\n

The most powerful and secure computing network in the world. https:\/\/t.co\/hGMKT8CMME<\/a><\/p>\n

— Pomp \ud83c\udf2a (@APompliano) January 18, 2020<\/a><\/p><\/blockquote>\n