Three important parameters of the Bitcoin network at once reached new historical records this week. This indicates an increase in interest in cryptocurrency.
The three most important indicators of the Bitcoin network – hash rate, complexity and total cost of outgoing transactions – have reached new historical highs. According to the statistical portal Blockchain.info, the Bitcoin blockchain hash rate — the total computational power available for processing blocks of transactions — has grown to 79 million terahs per second (TH / s). At the end of June, the figure was 57 million TH / s.
Computational complexity in the Bitcoin network jumped by 14% from 7.9 trillion at the beginning of July to 9 trillion.
The complexity of mining is a parameter of the blockchain network, which shows how difficult it is to perform a mathematical calculation to find a new unit and, accordingly, to receive an award for it.
The more miners working in the network, the higher the competition and the higher the complexity of mining. Thus, this figure indicates an increase in the number of mining installations connected and operating in the Bitcoin network.
The value of transaction volume also reached a new record. On July 22, transactions on 6 million BTC were made via the Bitcoin blockchain.