The bitcoin hash rate has risen sharply in recent weeks, reaching a record high of 185 ex-hashes per second. With this account, the bitcoin hash rate has increased by 18,400 percent since 2016.
The power of the hash rate continued to climb unabated Gives. Since the beginning of the New Year, it has recorded an unprecedented growth throughout its history.
Bitcoin hash rate usually increases by about 1500% every year and has been able to climb 18,400% in the last 5 years.
In mid-March, the price of Bitcoin reached its highest point in history and managed to cross the $ 61,000 mark. About a year ago, on Black Thursday, the value of bitcoin fell to $ 3,850.
Bitcoin mining has become very competitive and works with a very high hash rate. This was not the case about five years ago, and in just a few years we have seen such changes in the digital currency market.
Undoubtedly, the increase in the price of Bitcoin has played an effective role in increasing the hash rate. However, other technological advances have not been ineffective in this regard. In 2016, before the historic jump of Bitcoin, the hash rate was between 7 and 15 trillion per second, and later this figure increased to 100 trillion per second.
Bitcoin hash rate and its price have always been closely related, because hash rate on the one hand indicates the cost of bitcoin production for miners and on the other hand shows the overall security of the bitcoin network. In other words, the higher the overall hash rate, the more expensive network control will be. This decentralized trust is one of the most important features of Bitcoin.