bitcoin mining at all time high speedBitcoin miners have now surpassed the optimum capacity as per the original Satoshi Nakamoto white paper description. Miners are currently mining the cryptocurrency less than ten minutes a block.
The King of cryptocurrencies Bitcoin is the King for a reason, nested in the elegant architecture Satoshi has put forth in the algorithm.
The algorithm keeps the mining capabilities at the optimum to ensure a constant flow of Bitcoin regardless of the demand of the coin.
The hashrate has now touched the peak where per block mining time has come down to ten minutes. This is the optimum time as per the Satoshi Nakamoto White Paper.
Bitcoin is not the first currency that remains in flow despite being mined excessively. Gold has shown similar patterns over the years and the all-time high hash rate has given way to the optimal timestamps.
Bitcoin network has mined over one hundred and seventy (170) blocks a day at less than ten minutes a block capacity, the highest marked since January of the year 2018.
Ten minutes a block totals the daily average to one hundred and forty-four (144) blocks but the urgency levels in the current market is making things roll a little faster than optimum.
Bitcoin halving is approaching fast and the fact that the mining price would fall down to half whereas, the cost expenditure is raising across the globe also explains the additional has power.
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