Bitcoin network reaches 1 Exahash/s

#1

Post by oafitupa » Sun, Jan 24, 2016, 2:36 AM UTC

1 Exa = 1x10^18

Screenshot: https://i.imgur.com/FVrnXJW.jpg

Source: https://blockchain.info/charts/hash-rate?timespan=2year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Re: Bitcoin network reaches 1 Exahash/s

#2

Post by logn » Sun, Jan 24, 2016, 4:09 AM UTC

And still just ~5 transactions per second.

Re: Bitcoin network reaches 1 Exahash/s

#3

Post by imrehg » Sun, Jan 24, 2016, 3:19 PM UTC

logn wrote: post #2

And still just ~5 transactions per second.

Since the two things are not really connected (as far as I understand)...

Re: Bitcoin network reaches 1 Exahash/s

#4

Post by Avalaxy » Mon, Jan 25, 2016, 1:20 AM UTC

imrehg wrote: post #3

logn wrote: post #2

And still just ~5 transactions per second.

Since the two things are not really connected (as far as I understand)...

Correct. The amount of hashing power is correlated with how difficult it is to manipulate the network, but not with the rate at which coins are mined or transactions are processed.

I expect this to drop off after the reward halving. It's a constant zero sum game, but I don't expect the halving to propel the price so much that the hashing power is maintainable.

Re: Bitcoin network reaches 1 Exahash/s

#5

Post by KhalPanda » Mon, Jan 25, 2016, 9:26 AM UTC

That's a lot of power consumption.

Re: Bitcoin network reaches 1 Exahash/s

#6

Post by kleer001 » Wed, Jan 27, 2016, 7:24 PM UTC

KhalPanda wrote: post #5

That's a lot of power consumption.

Compared to what?