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liam marchell
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liam marchell
@MarchellLiam
changing world to better places, humans are part of the animal kingdom. cryptocurrency fanatic and everything contributed to the ecosystem #bitcoin #NFT
Katılım Kasım 2021
498 Takip Edilen80 Takipçiler
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@olvelez007 Bitcoin and #Ethereum use different hashing algorithms, meaning their hash rates are not directly comparable. Ethereum's hash rate is generally much higher than Bitcoin's,
#Ethereum transaction processing times is nearly 15 seconds compared to #BTC in 10 minutes.
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While I do speak and write about other #Bitcoin metrics just for the fun of it, in my opinion, this is the only one that truly matters: Hash rate. Everything else is noise to me, even the USD price.
If you want to know the growth of #BTC , here it is. If you want to know what the global adoption is, here it is. If you're looking to know how secure BTC is, here it is. If you want to see how BTC stacks up against anything else, this is it. Everything else to me is noise.
Let's take a look.
Hash rate is a measure of how many calculations a mining network can perform per second in order to mine new blocks and secure the network. It represents the combined computational power of all the miners participating in the network.
#Bitcoin has topped 400 exahashes per second (400 EH/s). An exahash is equal to one quintillion (10^18) hashes. Therefore, a hash rate of 400 EH/s means that the network is capable of performing 400 quintillion hashes (computational calculations) per second.
A higher hash rate indicates a more powerful and secure network, as it implies a greater amount of computational work being done. The higher the hash rate a network has, the more secure, the safer, the more trusted, and the more invincible the network is, meaning the more impossible it is to successfully attack or stop the network.
To put this in perspective, before Ethereum switched over to a Proof-of-stake (PoS) protocal, it had a hash rate of 968 terahashes per second (TH/s). One terahash is equivilent to 1,000,000,000 hashes (computational calculations) per second. However, #BTC 's hash rate is in the quintillions. One quintillion is 1,000,000 times bigger than one trillion. 🤯 1 MILLION TIMES MORE.
Now, can you see why Etheruem changed from Poof-of-work (PoW) to PoS? How on Earth do you compete with BTC's hash rate? You can't.
So, ETH decided it had to switch to the poor man's race track (PoS), a weaker, less secure, more centralized protocal just to compete, just to stay relevant. Sure, they marketed it as a good thing, a superior move, but in truth, it was a blatant admission of defeat. To those who truly understand, they shouted to the world, "we lost."
I know I'll get hate for pointing this out, but I don't make the rules, and I certainly don't create maths. This is pure maths, and maths are truth.
What I find most fascinating about #BTC 's hash rate is that the China ban on mining back in May of 2021 only caused a temporary setback. The network mended itself and rocketed to all-time-new highs a few months later. What's just as astonishing is the fact that the 2022 bear market, one of BTC's longest on record, had no effect on the growth of its strength (hashrate) one iota. It made new high, after new high, after new high, despite a lower and lower USD price.
This, to me, is proof that even the USD price doesn't matter much to the #BTC network. It's communicating through the language of maths that "I'm getting bigger, better, stronger, more secure and more powerful no matter what the USD tries to tell you. Don't believe it. Believe me!"
I believe #Bitcoin and so should you.
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Elon Musk is a people person. Would you like to shake his hand?
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Welcome #Crew7, to the International @Space_Station. Commander @AstroJaws and her crewmates are beginning a mission of about six months living and working on our orbiting lab.
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