A BTC hash rate explodes to new highs of 248.11 EH/s jumping by 31.69% in one day further ensuring resilience against the attacks on the network so let’s read furhter in today’s latest Bitcoin news.
The Bitcoin network recorded a new hash rate high as of today and it furhter secured the decentralized ecosystem through a growing network of BTC miners. The BTC hash rate explodes to new highs as the hash rate correlates to the computing power required by the miners’ computer equipment to confirm a transaction with the spike in hash rate ensures further security against the attacks by deterring bad actors from committing fraudulent transactions.
As it can be seen from the data, the network hash rate jumped 31.69% from 188.40 EH/s to 248.11 EH/s in one day. The Bitcoin network’s hash rate levels increased from 54.33% over the past year and China’s blanket bad on crypto mining last year led to concerns about the security of the network so the Asian country contributed to 43.25% of the total BTC mining hash rate until 2021 in June. With the miners finding refuge in other crypto-friendly countries, the network saw a sharp recovery and surpassed the previous high. The miners residing in the US contribute the highest in terms of the global hash rate of the bitcoin network at 35.4%.
The analysis shows that the industry players believe that BTC hash rate will continue to grow. Despite the investors’ panic induced by the BTC price roller-coaster, the experts pointed out that the BTC network became verifiably stronger than ever before. The co-founder chairman of Core Scientific Michael Levitt said that he fully takes part for the BTC global hash rate to grow at an aggressive pace but he also mentioned that this growth is depending on the price of Bitcoin and it going forward alogn with the success of the infrastructure currently being built.
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Speaking of hash rates, LTC lost more than a half of the value in the past months despite the recent market price increases and its blockchain hash rate, which has been on a steady uptrend showing the resilience of the network participants in the face of tremendous volatility on the market.
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