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Exponential leap in Bitcoin hash rates
Bitcoin has just seen its biggest jump in hash rates and accompanying difficulty of cryptogrphic calculations
By David Gilson
Updated Sep 29, 2023, 11:50 a.m. Published Jun 6, 2013, 1:04 p.m.
We have just observed a significant step up in the difficulty of Bitcoin hashes. This has come after a sharp rise in the total number of hashes per second on the Bitcoin network. Over the past 24 hours the hash rate has jumped from 127701 GH/s to 148527GH/s, according to Blockchain.info. This is one of the fastest and biggest changes in the history of the bitcoin protocol and demonstrates a continuing exponential growth in not just the difficulty of the proof-of-work calculations, but in the computing power being brought to bear on generating the currency.
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According to blockexplorer.com, the current difficulty of computing bitcoin blocks is rated at 15605632.681286. Around this time last year, the figure was approximately 13478. Which shows a 1158% YoY growth, and a 495% QoQ growth in difficulty.
Similarly for the hash rate, which is now at 148527 GH/s (giga-hashes per second), this shows an increase of 1111% YoY and 478% QoQ.
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