These past few months have been very positive for the power of total calculation of the network Bitcoin, as evidenced by the steady increase in the rate of the hash of the same, which from August will not stop to reach historic highs becoming higher. The rate of hashing or “hash rate” is not another thing that the unit of measure of the processing speed of the Blockchain of Bitcoin. That is to say, to a higher rate of hash, the network has a higher processing capacity, which allows solving the complex mathematical operations required to settle transactions in the Blockchain more quickly. Therefore, a high rate of hash means a lower wait time for validation of the transaction with Bitcoins in the network, and increased speed of the mining process, which would allow those who lend their power equipment to the Blockchain charge before your reward. Another positive effect of the increase in the rate of hash is to increase the security of the network Bitcoin, as more resources would be needed to attempt to make an attack against it. And now, this rate has reached the number of 87,81 million TH/s, a significant increase when you consider that at the beginning of August, the hash rate stood at just 70,98 million TH/s, as can be seen in the graph below. Graphic Hash Rate Bitcoin for This growth in the rate of hash is a reflection of an increase in the interest in the mining of Bitcoin, since the processing capacity of the network increases thanks to the incorporation of new actors who provide their computing power for the execution of transactions in the Blockchain. Therefore, this new historical maximum of the hash rate would mean an increase in confidence in the Bitcoin as an asset that is worth investing in, which also coincides with the view of Max Keiser, for whom increases in the rate of hash are a prelude to increases in the price of Bitcoin. The logic followed by Keiser is that, to a greater rate of hash, more resources would be needed to hack the network Bitcoin, therefore increases the security that it gives to investors. Since investments tend to flow to assets that are considered as “safe”, this growth in the hash rate would bring about an increase in the capital invested in BTC, and therefore in the demand for the currency, which will end up, according to Keiser, shooting the price of Bitcoin. The following two tabs change content below. Student of International Studies, interested in issues of economy and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and the cryptocurrencies in particular.
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