Hash rate, the number of calculations needed to process bitcoin transactions, is approaching a new high in the bitcoin network.
According to data from statistics and wallet provider Blockchain, bitcoin's hash rate is about to reach three figures for the first time in history. Data published on September 8 shows the crypto's hash rate was approaching 94 quintillion hashes per second.
Even though this figure is already a record, it looks like the hast rate will soon break above a level never reached before, 100 quintillion hashes per second.
The network's security and profitability increases together with its hash rate. When the hash rate is high, hackers face more problems to carry out 51% attacks, which significantly increases the network security.
Let's remember that bitcoin's hash rate experienced a six-month decline in 2018 before starting to recover in January this year.
In July Ihodl reported that BTC's hash rate had reached a new high.
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