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    Bitcoin hash rate marks all-time high as BTC cost drops below $25K

    Bitcoin (BTC) hash rate, a network security measure according to computing power for mining, achieved a brand new all-time high (ATH) of 231.428 ExaHash per second (EH/s) among a continuing bear market that witnesses BTC cost plunging underneath the critical $25,000 mark.

    Hash rates are directly proportional towards the computing power mining equipment for confirming transactions, which deters bad actors from manipulating on-chain transactions. Complimenting the brand new hash rate ATH, the Bitcoin network difficulty is a powerful position of 30.283 trillion.

    The believed quantity of TH/s the Bitcoin network has been doing within the last 24 hrs. Source: Blockchain.com

    Probably the most popular Bitcoin mining pools according to share of the market include Poolin, AntPool, F2Pool, ViaBTC and SlushPool. However, most the entire hash rates are contributed by distributed miners, proven as ‘Others’ within the graph below.

    An estimation of hash rate distribution among the biggest mining pools. Source: Blockchain.com

    Regardless of the market crash that threatens to wipe numerous crypto projects from existence, the Bitcoin ecosystem is constantly on the strengthen its core by consistently recording new ATHs for hash rate, network difficulty and network capacity.

    Additionally, the Bitcoin Lightning Network — the layer-2 technology built on Bitcoin, too elevated its ability to 4,000 BTC, furthering its goal to allow faster and cheaper peer-to-peer BTC transactions.

    With ongoing support from miners, traders and developers, Bitcoin remains well-positioned to become located around the most dependable blockchain network on the planet.

    Related: Cheapest weekly close since December 2020 — 5 items to know in Bitcoin now

    Block subsidiary TBD announced plans to construct “Web5,” a brand new decentralized web focused on BTC, underscoring founder Jack Dorsey’s thought that the biggest blockchain network will have a significant role within the internet’s evolution.

    Unlike Web3’s try to decentralize the web, Dorsey envisions Web5 being an identity-based system that runs only around the Bitcoin blockchain. As formerly described by Cointelegraph, based on TBD’s prototype documents, Web5, like a decentralized web platform (DWP) enables developers to produce decentralized web apps via DIDs and decentralized nodes. 

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