Record break again hash rate; The bitcoin network is getting stronger day by day
Bitcoin network hash rate reached its highest level in history yesterday. Experts believe that increasing the hash rate is in favor of Bitcoin in terms of security; But the continuation of this growth depends on the price situation of this digital currency.
To Report Bitcoin Telegraph, Bitcoin network hash rate reached a new record of 248.11 million per second on February 12 (February 23). With the growing activity of bitcoin miners around the world, the security of the decentralized ecosystem of this digital currency is increasing.
A hash is the processing power that miners devote to verifying transactions and extracting new network blocks. The recent increase in bitcoin network hashtags increases the security of this blockchain against possible attacks; Because in this case, the work of people who are looking to disrupt the network and want to create fraudulent transactions, will somehow be more difficult than before.
As you can see in the image above, the bitcoin network hash rate increased by 31% in just one day, from 188.40 exacerbations per second to 248.11 exacerbations per second. The bitcoin network hash rate has grown by 54.33% over the past year.
At the beginning of 2021, the ban on the extraction and trading of digital currencies in China affected the entire industry. On the other hand, there were concerns about the security of the Bitcoin network; Because until June 2021 (June) 34.25% of the total hash rate of the Bitcoin network belonged to this country.
When miners were finally able to seek refuge in digital currency countries, the Bitcoin network improved dramatically and the hash rate finally broke its previous record.
Currently, 35.4% of the global bitcoin hash is related to US-based miners, and it is one of the top bitcoin mining countries.
A January study showed that mining industry activists expect the bitcoin hash rate to continue to grow in the coming months. Although investors are already afraid of bitcoin price fluctuations, digital currency industry experts believe that now, the strength and security of the Bitcoin network is greater than ever.
Michael Levitt, co-founder and CEO of Core Scientific, confidently predicts that bitcoin network hashtags will continue to grow rapidly. However, he also points out that the growth of the hash rate depends on the increase in the price of bitcoin and the success of its developing infrastructure.