Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty Change

0 0

Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty Change

knife

While the next difficulty change for Bitcoin is just two days away, the network’s hashrate soared to unprecedented heights, reaching 491.15 exahash per second (EH/s) on May 02, 2023, at block height 787,895. This staggering amount of computational power came tantalizingly close to a half zettahash or five hundred quintillion hashes per second.

Bitcoin’s Hashrate Surges to Unprecedented Heights, Nearly Reaching Half a Zettahash

On the second day of May 2023, Bitcoin’s hashrate achieved a remarkable feat, tapping into a new record at block height 787,895. In a stunning display of computational power, the network reached a 24-hour high of approximately 491.15 EH/s. This momentous spike in hashrate comes at a time when the network has been recording an average of roughly 344.4 EH/s over the past 2,016 blocks, with the hashrate dipping below the 300 EH/s range on five separate occasions since April 2, 2023.

Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty Change

However, the month of April has seen slower block intervals, with block times consistently exceeding the ten-minute average over the 30-day period. The consequences of Bitcoin’s slower block times have been significant, leading to a notable backup in the mempool. As of 8:30 a.m. Eastern Time on May 2, data shows that a staggering 240,000+ transactions remain unconfirmed.

Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty Change

The latest surge in hashrate follows a previous milestone achieved on April 18, 2023, when the network tapped 440.80 EH/s at block height 786,013. However, Bitcoin’s current all-time high of 491.15 EH/s is even more impressive, and awfully close to a half zettahash. To put this into perspective, a zettahash represents an astronomical number of hashes, equivalent to one sextillion hashes per second.

In a recent report by Bitcoin.com News, research analyst Sam Wouters from River Financial made a bold prediction that Bitcoin could enter the zettahash era in two years’ time. Wouters’ estimates suggest that “at the current growth rate in 2023, we’d reach a Zettahash by the end of 2025.” Despite the network’s quick all-time high in hashrate, block times continue to lag behind the ten-minute average, and a downward difficulty adjustment between 1.22% to 2% is expected.

At the time of writing, Foundry USA reigns as the top mining pool, boasting 107.66 EH/s or 31.17% of Bitcoin’s total hashpower. Foundry is followed closely by Antpool with 80.75 EH/s, F2pool’s 42.62 EH/s, Binance Pool’s 29.91 EH/s, and Viabtc’s 23.18 EH/s.

What are your thoughts on Bitcoin’s soaring hashrate and the predicted entrance into the zettahash era? Share your opinions in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 27,030.24
ethereum
Ethereum (ETH) $ 1,888.92
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 306.26
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.518867
staked-ether
Lido Staked Ether (STETH) $ 1,887.60
cardano
Cardano (ADA) $ 0.375684
dogecoin
Dogecoin (DOGE) $ 0.072055
solana
Solana (SOL) $ 21.15
matic-network
Polygon (MATIC) $ 0.902542
tron
TRON (TRX) $ 0.076544
litecoin
Litecoin (LTC) $ 94.06
polkadot
Polkadot (DOT) $ 5.24
binance-usd
Binance USD (BUSD) $ 1.00
shiba-inu
Shiba Inu (SHIB) $ 0.000008
avalanche-2
Avalanche (AVAX) $ 14.46
dai
Dai (DAI) $ 1.00
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 27,058.25
uniswap
Uniswap (UNI) $ 5.04
leo-token
LEO Token (LEO) $ 3.59
chainlink
Chainlink (LINK) $ 6.38
cosmos
Cosmos Hub (ATOM) $ 10.58
okb
OKB (OKB) $ 46.26
monero
Monero (XMR) $ 146.32
the-open-network
Toncoin (TON) $ 1.73
ethereum-classic
Ethereum Classic (ETC) $ 18.03
stellar
Stellar (XLM) $ 0.092051
bitcoin-cash
Bitcoin Cash (BCH) $ 114.10
filecoin
Filecoin (FIL) $ 4.92
internet-computer
Internet Computer (ICP) $ 4.79
true-usd
TrueUSD (TUSD) $ 1.00
lido-dao
Lido DAO (LDO) $ 2.30
aptos
Aptos (APT) $ 9.05
quant-network
Quant (QNT) $ 118.44
hedera-hashgraph
Hedera (HBAR) $ 0.050571
arbitrum
Arbitrum (ARB) $ 1.24
crypto-com-chain
Cronos (CRO) $ 0.059353
near
NEAR Protocol (NEAR) $ 1.60
vechain
VeChain (VET) $ 0.019858
the-graph
The Graph (GRT) $ 0.131107
apecoin
ApeCoin (APE) $ 3.11
algorand
Algorand (ALGO) $ 0.151132
the-sandbox
The Sandbox (SAND) $ 0.561101
paxos-standard
Pax Dollar (USDP) $ 0.999623
frax
Frax (FRAX) $ 0.998302
edgecoin-2
Edgecoin (EDGT) $ 1.00
eos
EOS (EOS) $ 0.902841
elrond-erd-2
MultiversX (EGLD) $ 37.68
rocket-pool
Rocket Pool (RPL) $ 49.33
render-token
Render (RNDR) $ 2.61
optimism
Optimism (OP) $ 1.44
aave
Aave (AAVE) $ 63.99
fantom
Fantom (FTM) $ 0.320844
decentraland
Decentraland (MANA) $ 0.483125
theta-token
Theta Network (THETA) $ 0.854812
blockstack
Stacks (STX) $ 0.612797
tezos
Tezos (XTZ) $ 0.905307
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,027.38
axie-infinity
Axie Infinity (AXS) $ 7.03
immutable-x
ImmutableX (IMX) $ 0.768696
flow
Flow (FLOW) $ 0.730746
havven
Synthetix Network (SNX) $ 2.37
usdd
USDD (USDD) $ 0.999895
neo
NEO (NEO) $ 10.35
bitdao
BitDAO (BIT) $ 0.50003
gala
GALA (GALA) $ 0.030136
kucoin-shares
KuCoin (KCS) $ 7.37
whitebit
WhiteBIT Token (WBT) $ 4.90
radix
Radix (XRD) $ 0.068389
curve-dao-token
Curve DAO (CRV) $ 0.848223
bitget-token
Bitget Token (BGB) $ 0.465634
injective-protocol
Injective (INJ) $ 7.90
bitcoin-sv
Bitcoin SV (BSV) $ 32.57
gatechain-token
Gate (GT) $ 4.35
conflux-token
Conflux (CFX) $ 0.287557
maker
Maker (MKR) $ 664.97
gemini-dollar
Gemini Dollar (GUSD) $ 1.00
klay-token
Klaytn (KLAY) $ 0.184993
bittorrent
BitTorrent (BTT) $ 0.00000058475667
iota
IOTA (MIOTA) $ 0.198112
kava
Kava (KAVA) $ 1.00
chiliz
Chiliz (CHZ) $ 0.101807
pepe
Pepe (PEPE) $ 0.000001
casper-network
Casper Network (CSPR) $ 0.047088
pax-gold
PAX Gold (PAXG) $ 1,971.67
tokenize-xchange
Tokenize Xchange (TKX) $ 6.35
sui
Sui (SUI) $ 0.944715
terra-luna
Terra Luna Classic (LUNC) $ 0.000085
xdce-crowd-sale
XDC Network (XDC) $ 0.035839
compound-ether
cETH (CETH) $ 37.97
mina-protocol
Mina Protocol (MINA) $ 0.54112
gmx
GMX (GMX) $ 55.49
tether-gold
Tether Gold (XAUT) $ 1,964.38
huobi-token
Huobi (HT) $ 2.95
ecash
eCash (XEC) $ 0.000025
dash
Dash (DASH) $ 42.32
frax-share
Frax Share (FXS) $ 6.61
trust-wallet-token
Trust Wallet (TWT) $ 1.07
frax-ether
Frax Ether (FRXETH) $ 1,886.90