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

While the adjacent trouble alteration for Bitcoin is conscionable 2 days away, the network’s hashrate soared to unprecedented heights, reaching 491.15 exahash per 2nd (EH/s) connected May 02, 2023, astatine artifact tallness 787,895. This staggering magnitude of computational powerfulness came tantalizingly adjacent to a fractional zettahash oregon 5 100 quintillion hashes per second.

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

On the 2nd time of May 2023, Bitcoin’s hashrate achieved a singular feat, tapping into a caller grounds astatine block tallness 787,895. In a stunning show of computational power, the web reached a 24-hour precocious of astir 491.15 EH/s. This momentous spike successful hashrate comes astatine a clip erstwhile the web has been signaling an mean of astir 344.4 EH/s implicit the past 2,016 blocks, with the hashrate dipping beneath the 300 EH/s scope connected 5 abstracted occasions since April 2, 2023.

However, the period of April has seen slower artifact intervals, with artifact times consistently exceeding the ten-minute mean implicit the 30-day period. The consequences of Bitcoin’s slower artifact times person been significant, starring to a notable backup successful the mempool. As of 8:30 a.m. Eastern Time connected May 2, information shows that a staggering 240,000+ transactions stay unconfirmed.

The latest surge successful hashrate follows a erstwhile milestone achieved connected April 18, 2023, erstwhile the web tapped 440.80 EH/s astatine artifact tallness 786,013. However, Bitcoin’s existent all-time precocious of 491.15 EH/s is adjacent much impressive, and awfully adjacent to a fractional zettahash. To enactment this into perspective, a zettahash represents an astronomical fig of hashes, equivalent to 1 sextillion hashes per second.

In a caller report by Bitcoin.com News, probe expert Sam Wouters from River Financial made a bold prediction that Bitcoin could participate the zettahash epoch successful 2 years’ time. Wouters’ estimates suggest that “at the existent maturation complaint successful 2023, we’d scope a Zettahash by the extremity of 2025.” Despite the network’s speedy all-time precocious successful hashrate, artifact times proceed to lag down the ten-minute average, and a downward trouble accommodation betwixt 1.22% to 2% is expected.

At the clip of writing, Foundry USA reigns arsenic the apical mining pool, boasting 107.66 EH/s oregon 31.17% of Bitcoin’s full hashpower. Foundry is followed intimately 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 connected Bitcoin’s soaring hashrate and the predicted entranceway into the zettahash era? Share your opinions successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.