Bitcoin hashrate tops 1 Zetahash in historic first, trackers show - 'Coin Telegraph' News Summary (United States) | BEAMSTART
The Bitcoin network’s reported rise to 1 ZH/s — equivalent to 1,000 Exahashes per second — marks a 1,000x increase since late January 2016, when Bitcoin first hit 1 EH/s for the first time. The second-largest proof-of-work crypto network, Litecoin, currently boasts a hashrate of 2.49 Petahashes per second according to Coinwarz — making it around 40,000 times less computationally powerful than Bitcoin.
Bitcoin cypherpunk Jameson Lopp also previously pointed out that estimating Bitcoin’s hashrate with one “trailing block” as opposed to five can result in a difference of over 0.04 ZH/s.“Viewing the raw Hashrate metric can be deceiving due to random variations in block times,” added Blockware Solutions head analyst Mitchell Askew, who pointed out that Bitcoin’s 30-day moving average hashrate is still around 0.845 ZH/s mark in a note to Cointelegraph.
Source: Pierre RochardAskew noted that the huge rise in hashrate has coincided with more commercial Bitcoin mining firms competing to solve Bitcoin blocks in recent years.“Miners are doubling down: expanding sites and plugging in more efficient machines,” Askew said, adding that less efficient miners could soon be washed out unless Bitcoin’s (BTC) price rallies again in the coming months.
Cointelegraph by Brayden Lindrea
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