Bitcoin Network Achieves Historic Hashrate Milestone
The Bitcoin network has achieved a historic milestone, surpassing 1 Zetahash per second (ZH/s) in hashrate for the first time in its 16-year history, according to multiple blockchain data sources.
As of April 5, Bitcoin’s hashrate peaked at 1.025 ZH/s, based on data from mempool.space, while BTC Frame reported a slightly earlier peak of 1.02 ZH/s on April 4. Coinwarz data indicated that Bitcoin’s hashrate briefly touched 1.1 ZH/s on April 4 at block height 890,915. However, the same data also showed that Bitcoin had crossed the 1 ZH/s mark as early as March 24.
Despite the brief spike, Bitcoin’s hashrate fell back to below 0.95 ZH/s on April 7, according to BTC Frame. The variations in data results from differences in the methodologies used to calculate hashrate, including factors like block times, difficulty adjustments, and the nodes and miner pools selected for data extraction.
Discrepancies in Hashrate Data
The discrepancies across different trackers are largely attributed to the varying methods for measuring and estimating Bitcoin’s hashrate. For instance, Bitcoin cypherpunk Jameson Lopp previously noted that estimating hashrate using one “trailing block” as opposed to five could cause a difference of over 0.04 ZH/s.
Mitchell Askew, head analyst at Blockware Solutions, also emphasized that the raw hashrate metric might be misleading due to random variations in block times. He added that Bitcoin’s 30-day moving average hashrate still stands around 0.845 ZH/s, despite the recent fluctuations in the data.
Significance of Hitting 1 ZH/s
Regardless of the variations, the achievement of 1 ZH/s is significant, as it reflects an enormous increase in the network’s computational power. This milestone underscores the increasing decentralization of the Bitcoin network, which directly contributes to its security. The more computational power the network has, the harder it becomes for any single entity to mount a 51% attack, making Bitcoin more resilient than ever.
The increase in hashrate is a substantial milestone, marking a 1,000x rise since January 2016 when Bitcoin first surpassed 1 Exahash per second (EH/s). To put this into perspective, Litecoin, the second-largest proof-of-work blockchain, currently operates with a hashrate of 2.49 Petahashes per second—around 40,000 times less powerful than Bitcoin.
A Bright Future for Bitcoin Security
This achievement is a testament to the Bitcoin network’s growing computational strength, as more miners and participants join the network. The rise in hashrate also signals a broader trend towards Bitcoin’s increasing adoption and security, as it continues to maintain its position as the world’s largest cryptocurrency by market capitalization.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a "detective-like" mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
