Bitcoin Kicks Off 2020 More Secure Than Ever as Hash Rate Hits Record

Bitcoin (BTC) has already hit a new record in 2020 as the cryptocurrency’s network hash rate once again topped previous all-time highs. 

Data from multiple monitoring resources including Blockchain and Coin Dance confirmed hash rate was higher than ever on the first day of the new year. 

Estimates point to an all-time high for BTC network

A measure of the computing power devoted to validating the Bitcoin blockchain, hash rate spent much of 2019 in a continuous growth cycle. Only for a brief period in Q3 did the upward trend level off.

Strong hash rate suggests Bitcoin is a more appealing proposition for miners — more mining power translates into better network security and robustness against potential attacks.

According to Blockchain, the metric hit 119 quintillion hashes per second (h/s) on Jan. 1. 

Bitcoin 1-year network hash rate. Source: Blockchain

Coin Dance’s figures are different, with 143 quintillion h/s recorded for the same date. 

Bitcoin 14-month network hash rate….