Jakarta, Pintu News â In recent weeks, the Bitcoin network recorded a new milestone with its hashrate breaking the 1 Zetahash per second (ZH/s) mark for the first time, reflecting its incredible computational power and growing level of decentralization.
This achievement comes amid turbulent market conditions, where the price of Bitcoin has fallen nearly 10% in the last four days due to fears of a recession triggered by US President Donald Trumpâs tariff plans.
The Bitcoin network has reached a hashrate rate of more than 1 Zetahash per second (ZH/s) for the first time in Bitcoinâs 16-year history, according to multiple blockchain data sources.
According to data from mempool.space, Bitcoin hashrate passed the milestone on April 5 with a peak of 1.025 ZH/s, while data from BTC Frame recorded a figure of 1.02 ZH/s the day before.
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Meanwhile, data from Coinwarz shows that Bitcoinâs hashrate jumped to 1.1 ZH/s on April 4 at a block height of 890,915 â although the same data also shows that Bitcoin first crossed the 1 ZH/s mark on March 24.
The differences in hashrate figures arise due to different calculation methods â such as the block time and difficulty adjustments used, which Bitcoin nodes and mining pools are used as data sources, and other factors.
Bitcoin cypherpunk, Jameson Lopp, also previously highlighted that estimating Bitcoin hashrate using one âtrailing blockâ instead of five could result in a difference of more than 0.04 ZH/s.
âLooking at raw hashrate metrics can be misleading due to random block timing variations,â added Blockware Solutions chief analyst Mitchell Askew. In his statement, he also noted that Bitcoinâs 30-day moving average hashrate is still around 0.845 ZH/s.
Despite the discrepancies in the data, this achievement highlights the large amount of computing power that powers the Bitcoin network as well as its increasing decentralization. This makes the network more secure and significantly reduces the likelihood of attacks by 51%.
The reported increase in Bitcoin network hashrate to 1 ZH/s â equivalent to 1,000 Exahash per second â marks a 1,000-fold increase since late January 2016, when Bitcoin first reached 1 EH/s.
In comparison, the second largest proof-of-work crypto network, Litecoin, currently has a hashrate of 2.49 Petahash per second according to Coinwarz â about 40,000 times less than Bitcoin in terms of computational power.
Mitchell Askew notes that this huge spike in hashrate coincides with the increasing number of commercial Bitcoin mining companies competing to crack Bitcoin blocks in recent years.
âMiners are getting serious: they are expanding their sites and installing more efficient machines,â Askew said, adding that miners with less efficient machines could be eliminated if the price of Bitcoin does not increase in the next few months.
MARA Holdings is currently the largest Bitcoin miner with over 50 EH/s of computing power. Meanwhile, most of the hashrate is channeled through Bitcoin mining pools such as Foundry USA Pool and AntPool, according to data from Hashrate Index.
At least 24 publicly listed companies have active Bitcoin mining machines, according to CompaniesMarketCap.com.
Some of the other major miners that also contribute to the hashrate include Riot Platforms, Core Scientific, CleanSpark, Hut 8 Mining, and TeraWulf.
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The new record high in Bitcoin hashrate comes amid a sharp market decline â with Bitcoin price plummeting nearly 10% in the last four days to $78,750.
At the same time, the US stock market lost about $6.6 trillion on April 3 and 4 â the biggest two-day loss in history.
Much of this decline has been attributed to US President Donald Trumpâs tariff plans, which many industry analysts say have sparked fears of a potential recession.
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