Bitcoin Network Hits Record Hash Rate of 551 EH/s as Sixth Consecutive Difficulty Increase Looms
Quick take
The midpoint of the current distress period, which is expected to adjust on November 26, paints a picture of robust growth and resilience for the network. Current projections suggest a positive upward adjustment to the difficulty level of 3.77%, continuing the positive adjustments seen over the past five adjustments.
The network recorded a record single-day hash rate of 551 exahashes per second (EH/s), the highest ever observed. This indicates an increasing level of computing power used in the network, demonstrating the growing popularity and, by extension, security of the network. It is worth noting that this increase in hash rate and the expected positive difficulty adjustment are indelible, as both are indicators and facilitators of network stability and growth.
With these milestones, the network prepares for what could be its sixth consecutive positive adjustment, highlighting a strong phase of sustained growth.
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