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Author: Admin | 2025-04-28
Large number of miners are working on a block, the one with the highest hash rate will solve most of the calculations, receiving most of the reward.Can the hash rate change?Yes, and Bitcoin is a great example. In the Bitcoin Blockchain, for example, the hash rate has increased significantly in recent years. The reason was the growing interest in trading, the increase in transactions with Bitcoin, and the upgrade in computational processing capacity.How to use hash rate in practice?The hash rate is essential, as it has a great influence on the security and sustainability of the Bitcoin network since the miners' earnings are related to the hash rate, because the higher the hash rate, the more blocks are being mined.So, how can you find out the network hash rate? Adding the computational power of all the miners that make up the Bitcoin network. Bitcoin hash rate between 2018-20202017: 14 MH/s2018: 60,57 MH/s2019: 114,25 MH/s2020: 163,3 MH/sThis calculation is done as an estimate based on the number of blocks mined and the difficulty of mining on the network since it is not possible to know exactly the mining power of Bitcoin.In yellow, the Bitcoin network hash rate between the years 2017 to 2020. In blue, Bitcoin price in the same interval.Summing up, the hash rate is one of the health indicators of the network, indicating that even in times of correction of Bitcoin values, as occurred in the interval between 2018 and 2019, the hash rate continued to increase, demonstrating the confidence of miners and users carrying out purchase and sale transactions of the asset. This is even more evident from July 2019, when Bitcoin reached $ 8,000, the hash rate reached 114.25 MH/s and continued to rise until December 2020, when Bitcoin broke the record $23,000, with a hash rate of 163.3 MH/s.Ready to negotiateNow that you know everything about the Bitcoin hash rate and how important it is for the analysis of On-Chain data, you can use this indicator to your advantage when creating operational strategies and understanding in a deeper way which is the best time to enter
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