Hash rate of the bitcoin network has grown by 550% since the previous year

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Hash rate of the bitcoin network has grown by 550% since the previous year and is now at around 55 EH/s, analysts said the LongHash.

Today in a Twitter Analytics company LongHash has published statistics on network capacity the bitcoin:

“Bitcoin hash rate held steady at 55 000 000 TH/s about recognix values. Hash rate has increased 550% since the previous year, and this is one of the key metrics that determine the power of the bitcoin network”.

Out bitcoins’s hash rate is holding steady at roughly 55,000,000 TH/s near all-time highs.

Out bitcoins’s network hash rate has grown 550% in the past year, and is one of a few key metrics determining out bitcoins’s network strength.

— LongHash (@longhashdata)

High hash rate is a positive indicator, as it means that the network cryptocurrencies are more resistant to attacks. It also shows that private miners and large companies strongly believe in the future of BTC.

Last month, analysts also noted that despite the heavy correction of the prices of BTC since December of 2017, when the market was set to the maximum value of the coin, the interest of miners to the oldest cryptocurrency continues to grow. In the period from may to September, its network hash rate has doubled: 28 EH/s recorded in may vs September 57 EH/s. However, the latest figures are below the record 62 EH/s, achieved in August when the index of dominance of bitcoin again exceeded 50%.

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