The Bitcoin (BTC) hash rate, a measure of network security based on computing power for mining, hit a new all-time high (ATH) of 231,428 exahash per second. (EH/s) amidst a bear market that sees BTC price sink below the critical $25,000 mark.
The hash rate is directly proportional to the computing power of the mining equipment to confirm transactions, thus deterring bad actors from manipulating transactions on-chain. Complementing the new all-time hash rate high, Bitcoin network difficulty stands at a strong 30.283 trillion.
Some of the most popular Bitcoin mining pools based on market share are Poolin, AntPool, F2Pool, ViaBTC, and SlushPool. Nevertheless, most of the total hash rate is contributed by distributed miners, shown as “Other” in the chart below.
Despite the market crash that threatens to wipe out numerous cryptocurrency projects, the Bitcoin ecosystem continues to strengthen its core by consistently recording new all-time highs for hash rate, network difficulty, and network capacity.
Also, Bitcoin’s Lightning Network – the layer 2 technology built on top of Bitcoin – increased its capacity to 4,000 BTC, furthering its goal of enabling faster and cheaper peer-to-peer BTC transactions.
With the continued support of miners, traders and developers, Bitcoin remains well positioned to be hosted on the world’s most secure blockchain network.
Block affiliate TBD announced plans to build “Web5”, a new decentralized website focused on BTCunderlining founder Jack Dorsey’s belief that the largest blockchain network will play a significant role in the evolution of the Internet.
1/ Jack Dorsey’s @TBD54566975 unit has just announced it is building “Web5”.
This new decentralized web leverages #bitcoin to put users back in control of their data and identity – once and for all.
Here’s a thread with all you need to know… pic.twitter.com/TpW8OvuyKX
— Namcios (@namcios) June 10, 2022
1/ Jack Dorsey’s unit @TBD54566975 has just announced that he is building “Web5”.
This new decentralized web leverages Bitcoin to put users back in control of their data and identity, once and for all.
Here’s a thread with everything you need to know… pic.twitter.com/TpW8OvuyKX
Contrary to Web3’s goal of decentralizing the Internet, Dorsey envisions Web5 to be an identity-based system running solely on the Bitcoin blockchain. As Cointelegraph already explainedBuilding on the TBD prototype docs, Web5, as a decentralized web platform (DWP), allows developers to build decentralized web applications via DIDs and decentralized nodes.
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