Bitcoin recently crossed 500 EH/s. That is to say 500 billion billion hashes per second. Put into perspective.
Bitcoin, how many legions? 500.
The quantity of hash generated at the end of 2023 was 102% higher than a year earlier. The miners have doubled their power!
Which, by the way, does not mean that Bitcoin uses twice as much electricity. Many much more efficient machines are replacing old models that are three to five times less efficient.
Not to mention the democratization of new cooling techniques such as immersion in a heat transfer liquid which further increase efficiency from 50% to 85%.
Bitcoin is backed by the greatest computing power in the world. It surpasses by several orders of magnitude that of the clouds that Amazon, Google and Microsoft have built over the last 15 to 20 years.
The reason being that BTC miners do not use just any electronic chips. They use ASICs (Application-Specific Integrated Circuit) specially dedicated to the SHA-256 algorithm.
So much so that the Bitcoin hashrate now exceeds the colossal figure of 500 exahash/s. Here is a perspective by Yassine Elmandjra :
-“For each star in our galaxy, the Bitcoin network performs five billion calculations per second. »
-“It would take ~2000 years for the entire world population, each producing one hash per second, to reach the Bitcoin hash rate. »
-“The Bitcoin network produces ~67 times more hashes per second than there are grains of sand on Earth. »
-“In number of raw operations per second, Bitcoin is ~500 times more efficient than the most powerful supercomputer in the world. »
In other words, bitcoin is not based on nothing, but on gigawatts of encrypted energy. Quite the opposite of Ethereum’s Proof of Stake which rests on the shoulders of the richest users…
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