The Sparrow had used to whistle it from the rooftops and it had already been foreshadowed in the last week. The Bitcoin network reached another superlative: The hash rate of the decentralized network has now reached the incredible strength of 100 Exa-Hash per second. Thus, the security of the BTC network is rising to a new High. What is the impact this could have on the Bitcoin price, you can find out in this article.
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Bitcoin Hashrate is achieved with 100,000,000 TH/s a new record level and rising
The exponential growth of Bitcoin’s Hashrate is picking up more pace since the beginning of September. We had already pointed out in the last week, that soon the 100 million Tera-Hash could fall, now it is happening. This solidified the position of the Bitcoin network, the first distributed network in the world.
What is the hash rate of the Bitcoin and what it says?
The hash rate is defined as the overall measure of the computing power within a certain block chain based network. The Hashing will take place within the verification process of Bitcoin, the transactions of the miners to be confirmed. In this process, miners use their hashing power to solving equations, in order to verify the first Bitcoin Block, and the Block Reward to pocket.In Essence, you can see the Hashrate to say: the higher, the more miners are working on these blocks, and the stronger the computing power of the Miner.
What the Mining Difficulty is and how are they developed?
In addition to the increase of Hash-Power, it also leads to an increase in the Mining Difficulty:
The more saturated the network is, the more difficult it is to mine BTC. That is why the Mining Difficulty adjusts every two weeks. This ensures equal distribution in the network and avoids that increased computing power brings more BTC. A mechanism that keeps the network and the Mining in equilibrium.The recent increase, however, could be more of a sign of quality rather than quantity. Because in addition to the newly announced Antminern the other Mining Manufacturers are not tired, to improve their Hardware further and further. The enormous increase is explained also by the made Upgrades to, and not exclusively by the new Miner in the Bitcoin network. The result is nevertheless the same: The network is as secure as never before.Token insight confirms this impression, and has published a report that shows that the demand for Mining Equipment had grown to such an extent that the Mining Hardware manufacturers could no longer supply enough. In addition, it is mentioned in the report that with increasing hash rate, the Mining Difficulty will increase, and for the second half of the year 2019, a rise of around 48-72% is expected.
Driving the rise in Bitcoin Hashrate Bitcoin rate?
The Hashrate of Bitcoin has been located since the end of December on a constant upward trend, and coincides exactly with the assumed price floor of Bitcoin.Against this Background, some analysts and experts have quickly realized a connection between the rising Hashrate of the Bitcoin and the price movement. The theory States that high Hashing Power is often a good sign for the health of the network, which gives the investors more confidence in BTC.You’re bullish on Bitcoin and are looking for a suitable Bitcoin Broker? The intuitive Broker eToro is perhaps exactly the right place for you. Let you in our eToro Test in 2019 all the features to educate and where here the pros and cons are . eToro Test 2019 read now.Bitcoin-COP Max Keiser is one of the passionate propagandists of this theory. According to Bitcoins last milestone of about 85 EH/s tweeted Keiser simple:
“Price follows hashrate, and the hashrate chart continues its 9 yr bull market”
The relationship between price and Hashrate, however, is not necessarily correct. This shows the lack of correlation between the price of Bitcoin and of its Hashing Power in the course of the bear market of the past year. During this time, the Hashpower has increased, but prices fell.Regardless of the swelling can be considered the end of growth of the Hashhrate only as a good thing for the longevity of the Bitcoin network, regardless of whether the price will be affected or not. In the end, it is the Foundation for a good development of the Bitcoin exchange rate and increased confidence in the Bitcoin network.A new record high for the Bitcoin network. The Bitcoin price? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. [Image Source: Shutterstock]