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The Hash Rate of Bitcoin Achieved a New Peak

17 August 2020, 13:58
Votes: 1

The frequency of the overall BTC mining facilities that were used in the network reached almost 130 EH/s, showing the increasing interest rate. According to the latest news in cryptocurrency, miners are sure that Bitcoin price will be growing in the upcoming year.

The Hash Rate of Bitcoin Achieved a New Peak

What is a hash rate, and why is it an important metric?

Bitcoin hash rate is the specific number that shows how much energy the total network requires to be stable in finding necessary blocks, which is measured in 10 minutes periods. In other words, it shows how many mining facilities are there online and ready to earn BTC.

The increase of this rate shows that miners are sure in the profitability of the actions they make and know that the Bitcoin currency finding is worth it. On August 15, this metric reached a record rate of 129.075 EH/s (129.075 quintillion hashes per second).

Why is cryptocurrency gaining momentum?

The majority of cryptocurrencies are showing a positive tendency in their exchange rates due to several factors. Thus, online companies and the whole banking systems are actively adding crypto as the payment methods, which is well-protected via blockchain technologies and has lower transaction commission.

Even shakings caused by the global pandemic haven’t changed the trends in cryptocurrencies, which are actively developing as the sector to invest in. It is tightly related to the blockchain approach used in it, which allows using data with a new level of effectiveness. The situation with the BTC new hash rate level only confirms the overall tendency.

Read more: What should a contributor know about Bitcoin before investing in it?

Read more: Were Bitcoin price predictions for 2020 reasonable?

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