RATE Group | Bitcoin Network Hash Rate Hits 80 Quintillion for the First Time
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Bitcoin Network Hash Rate Hits 80 Quintillion for the First Time

11 Aug Bitcoin Network Hash Rate Hits 80 Quintillion for the First Time

Posted at 08:40h in Bitcoin News by

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Bitcoin (BTC) has passed another network performance milestone this week as the largest cryptocurrency’s hash rate hit a new record high.

Bitcoin secured by 80 quintillion hashes per second

Data from monitoring resource Bitinfocharts confirmed Bitcoin’s hash rate exceeded 80 quintillion SHA256 hashes per second Aug. 8, the first time such a level has been reached.

Hash rate refers to the amount of computing power used to validate Bitcoin transactions. The more power, the costlier it becomes for malicious actors to attack the network. 

As Cointelegraph reported, hash rate has set multiple new all-time highs throughout recent months, reversing a downward trend which characterized the second half of the 2018 Bitcoin bear market. 

The metric is one of many to set personal bests this year; difficulty and volume, among others, have also done so.

Greater security boosts investor confidence 

Network strength in turn contributes to the overall bullish sentiment among Bitcoin proponents,…

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