Posted 11/22/2023, 9:01:51 PM
Bitcoin Network Security Surges to Record Highs Ahead of Halving Event
- Bitcoin's hash rate hits new all-time high of 491 exahashes per second, indicating increased computing power and security of the network
- Higher hash rate makes it more difficult for attackers to take control of the Bitcoin network
- Upcoming Bitcoin halving event in April will reduce the supply of new Bitcoin awarded to miners
- Halving is designed to control BTC inflation and has previously increased market demand
- Miners are upgrading equipment ahead of halving, contributing to increased hash rate and energy use