On Friday, October 25, 2024, Bitcoin’s network hash rate soared to an unprecedented all-time high of 736.81 exahash per second (EH/s), marking a significant milestone in the cryptocurrency’s history.
The recent surge in Bitcoin’s computing power has been remarkable, with an increase of over 67 EH/s in just nine days. This new record pushes the Bitcoin network significantly toward the anticipated zettahash era, where one zettahash per second (ZH/s) equates to an astounding 1,000 EH/s. As it stands, the current hash rate of 736.81 EH/s translates to approximately 0.73681 ZH/s.
In March 2023, Sam Wouters, head of marketing and content at Bitcoin company River, predicted that the network could reach the zettahash milestone by 2025. At that time, the hash rate was only 400 EH/s, but Wouters noted that “current growth rates in 2023 suggest we will reach zettahash by the end of 2025.” Recent trends in hash rate growth appear to align with his forecast.
Just three months ago, on July 25, 2024, the hash rate was recorded at 677 EH/s, showcasing considerable fluctuations since then. Over the past 90 days, the average hash rate has risen by approximately 0.66 EH/s per day. If this trend continues, the Bitcoin network is projected to hit the milestone of 1,000 EH/s—or 1 ZH/s—around November 28, 2025.
The term “zettahash” refers to an astronomical number, roughly equivalent to 1 sextillion (1,000,000,000,000,000,000,000) SHA256 hashes per second, comparable to the estimated number of stars in the observable universe. In data terms, one sextillion bytes equals a zettabyte (ZB), a figure that is becoming increasingly pertinent as global data generation accelerates. By next year, Bitcoin is expected to handle numbers of this magnitude.
As Bitcoin transitions into the zettahash era, the network’s substantial computational growth underscores the expanding global commitment to decentralized technology. Each new peak in hash rate not only enhances Bitcoin’s security and resilience but also signals a significant evolution in the digital landscape, coinciding with these extraordinary numbers.
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