Bitcoin: Hash rate continues to reach record highs
The Bitcoin hash rate continues to reach record highs, reflecting the increase in interest generated by cryptocurrency among investors. In recent months they have been very positive for the total computing power of the Bitcoin network, as evidenced by the constant increase in the hash rate of it, which since August does not stop reaching higher and higher historical maximums.
The hash rate or “hash rate” is nothing more than the unit of measurement of the processing speed in the Bitcoin Blockchain. That is, at a higher hash rate, the network has a higher processing capacity, which allows solving the complex mathematical operations required to settle transactions in the Blockchain faster.
Therefore, a high hash rate means a shorter waiting time for validation of transactions with Bitcoins on the network, and a faster speed in the mining process, which would allow those who lend their computing power to the Blockchain to collect before Your reward
Another positive effect of the increase in the hash rate is to increase the security of the Bitcoin network, as more resources would be needed to attempt an attack against it.
And now, this rate has reached the figure of 87.81 million TH / s, an important increase when it is considered that at the beginning of August the hash rate was only 70.98 million TH / s, as you can Observe in the following graph.
This growth in the hash rate is a reflection of an increase in interest in the mining of Bitcoin, as the network’s processing capacity increases thanks to the incorporation of new actors that lend their computing power to carry out transactions in the Blockchain
Therefore, this new historical maximum of the hash rate would mean an increase in confidence in Bitcoin as an asset in which it is worth investing, which also coincides with the vision of Max Keizer, for whom increases in the hash rate They are a prelude to increases in the price of Bitcoin.
The logic followed by Keizer is that, at a higher hash rate, more resources would be needed to hack the Bitcoin network, so it increases the security it provides to investors. Since investments usually flow to assets that are considered “safe”, this growth in the hash rate would bring an increase in capital invested in BTC, and therefore in the demand for the currency, which will end, according to Keiser, firing Bitcoin price
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.