Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Bitcoin celebrates its 13th anniversary of the Genesis Blockchain with new historic heights in its hash rate. The Bitcoin network a network refers to all nodes in the operation of a blockchain at any given moment in time. today is stronger and more secure than ever.
Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. the world’s largest cryptocurrency, is starting the year off on the right foot after setting a new record for the world’s largest cryptocurrency, the hashrate .
According to data from Blockchain.com the hash rate of Bitcoin has climbed to an all-time high above 200 exahashes per second (EH/s). The metric recorded a new high on Sunday night, the data shows, suggesting that the network has fully recovered from the effects of China’s ban and has become more secure.
El hashrate or hash rate of Bitcoin is the unit of measurement used to calculate the processing power of the network. Blockchain. As such, the metric refers to the amount of computational power used by miners contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office. on the combined network globally to mint new bitcoins and verify transactions. A fee of hash a hash is the output result of a hashing algorithm, which creates a unique, fixed-length string to encrypt and secure a certain selection of arbitrary data. higher means more competition among miners to validate new blocks. It also means the network is stronger and more secure, making it harder for a 51% attack to occur.
Hash rate sets new record high
The hash rate of Bitcoin has risen steadily since its collapse in the middle of last year in the wake of the Chinese government’s crackdown on cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. miners. As reported by DiarioBitcoin in July 2021, the banning of the Asian power caused the desplome of the hashrate below the level of 70 EH/s .
Data at the time estimated that China accounted for about 47% of the global mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. power of the network. Bitcoin . However, since the ban, Chinese miners have been forced to migrate to other regions such as Kazakhstan, Iran and the United States. The progressive relocation of mining machines has succeeded in increasing the network’s hash rate.
The growth seen since July last year is now close refers to the closing price; similar to the same term used in stock trading. to 200%, taking into account an account is essentially a whose purpose is to track the financial activities of a specific asset/ the plunge to 68 EH/s and the current historical rebound. As for the last 12 months, the metric is up 49% from the 136.5 EH/s recorded on January 2, 2021. It should be noted that the hash rate peaked at 207 EH/s on Sunday and is now hovering at 190 EH/s according to data fromYCharts.
Some enthusiasts and ecosystem experts have highlighted the record as a milestone and a sign of the network’s resilience. Bitcoin after the collapse caused by Chinese repression. Among them, Jameson Lopp, founder of wallet a place where cryptocurrency users can store, send and receive digital assets. Casa and developer of Bitcoin he wrote in a tweet :
Weathering and fully recovering from a more than 50% drop due to the mining ban by the country with the most hashpower was an important milestone for the resilience of the network.
Bitcoin’s network hashrate increased by 10% during 2021, from 159 to 175 exahash per second.
But that’s not noteworthy. Weathering and completely recovering from a 50%+ drop due to a mining ban by the country with the most hashpower was a major milestone for network resilience. pic.twitter.com/yw8HwXm9pG
— Jameson Lopp (@lopp) January 2, 2022
Bitcoin celebrates 13 years of Genesis Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.
The new record for the network Bitcoin coincides with the celebration of the 13th anniversary of the Genesis Block.
On January 3, 2009, the mysterious creator of Bitcoin known under the pseudonym Satoshi the smallest unit of bitcoin with a value of 0.00000001 BTC. Nakamoto, generated the zero block of the network, also known as the ‘Genesis Block’. This first block of the Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. de Bitcoin contained a message. “ The (British) Chancellor is considering a second bank bailout programme “he said, quoting a British newspaper headline The Times.
The date has become an historic day for Bitcoin as it marks the foundation of the world’s first cryptocurrency. In addition, although Nakamoto never specified the meaning of his message, many enthusiasts have interpreted it as a reference to the motivation behind the creation of Bitcoin A system without intermediaries, outside the control of banks and governments.
The community of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. enthusiasts around the world is celebrating the historic date on Twitter.
Thirteen years ago today, Satoshi Nakamoto officially mined the #Bitcoin Genesis block.
The new digital monetary system he launched is now more valuable than all but 13 national currencies.
Thank you Satoshi ???? pic.twitter.com/mBLmKTnocI
— Bitcoin Magazine (@BitcoinMagazine) January 3, 2022
It is worth noting, as an overview Decrypt that the genesis block of Bitcoin it wasn’t really ” mined “The following blocks were the same as the following ones. Instead, it was coded into the protocol the set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain. software. The first mined block arrived six days later, on January 9, 2009.
Thirteen years after its origin, Bitcoin is positioned as one of the world’s largest assets, surpassing the value of many fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. currencies. With a capitalization of 900 billion dollars, Bitcoin registers a price of USD $47.000 the unit as of press time. The figure represents a 47% increase from its previous anniversary figure of USD $32,000, as well as a drop of almost 30% from its all-time high near $70,000 in November of last year.
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Article versioned by Hannah Estefania Perez / DiarioBitcoin
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