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Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty Change

Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty ChangeWhile the next difficulty change for Bitcoin is just two days away, the network’s hashrate soared to unprecedented heights, reaching 491.15 exahash per second (EH/s) on May 02, 2023, at block height 787,895. This staggering amount of computational power came tantalizingly close to a half zettahash or five hundred quintillion hashes per second. Bitcoin’s Hashrate […]

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Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in March

Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in MarchIn March 2023, Bitcoin’s average and median-sized fees jumped more than 40% higher after rising 122% in 10 days during the first week of February. The fees have followed the Ordinal inscription trend as more than 662,000 inscriptions reside on the Bitcoin blockchain, and 150 bitcoin worth $4.2 million have been added to fees. Bitcoin […]

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Bitcoin Difficulty Surges 4.68%, Taps New All-Time High; Metric Set to Surpass 40 Trillion

Bitcoin Difficulty Surges 4.68%, Taps New All-Time High; Metric Set to Surpass 40 TrillionThe Bitcoin blockchain recorded another difficulty increase on Sunday, Jan. 29, 2023, at block height 774,144. The network’s difficulty increased by 4.68%, from 37.59 trillion to an all-time high of 39.35 trillion. Bitcoin Difficulty Reaches New All-Time High as Mining Gets Tougher Bitcoin’s difficulty reached another all-time high, surpassing the record set two weeks ago, […]

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Bitcoin Difficulty Set to Rise 3.82% to All-Time High of 39 Trillion Following Recent Increase

Bitcoin Difficulty Set to Rise 3.82% to All-Time High of 39 Trillion Following Recent IncreaseThe Bitcoin network is set to record another meaningful difficulty increase on Sunday, Jan. 29, 2023, as current estimates expect it to rise 3.82% higher. The change follows the last difficulty retarget, which advanced by 10.26% to the current all-time high of 37.59 trillion. Block Time Breakdown: How Faster Discovery is Impacting Bitcoin Difficulty In […]

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Bitcoin Network Braces for Notable Difficulty Increase in 3 Days

Bitcoin Network Braces for Notable Difficulty Increase in 3 DaysBitcoin’s mining difficulty, the measure of how difficult it is to find a new block and add it to the blockchain, is set to increase significantly on Jan. 15, 2023, according to current estimates. At the time of writing, Bitcoin’s mining difficulty appears to be on track for a 10% increase, rising from 34.09 trillion […]

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Solana’s co-founder addresses the blockchain’s reliability at Breakpoint

In 2022, the blockchain suffered from ten partial or full outages along with slow block times. Solana’s co-founder said it’s “not the experience that we want to deliver.”

Solana co-founder Anatoly Yakovenko says the past year has been mired by the network’s reliability issues and outages, but recent updates will help the blockchain resolve its reliability issues. 

During the Breakpoint 2022 annual conference in Lisbon, Portugal on Nov. 5,  Yakovenko discussed the past and future of the blockchain, noting the network has faced difficulties over the past year:

“We've had a lot of challenges over the last year, I would say this whole last year has been all about reliability.”

Solana has suffered ten partial or full outages, according to its own status reporting, the most notable of which occurred between Jan. 6-12, 2022, with the network plagued with issues causing partial outages and degraded performance for between 8 and 18 hours. The most recent was what it called a “major outage,” lasting nearly six and a half hours on Oct. 1.

Between late May and early June, Solana suffered from a clock drift, where the blockchain’s time was different from real-world time due to longer than average slot times (also referred to as block times), the time interval during which a validator can send a block to Solana.

Typically, Solana’s ideal slot time is 400 milliseconds, but Yakovenko said that “things got really really bad in June, block times went up to over a second, which is really slow for Solana,” adding in some cases “confirmation times so we're taking 15 to 20 seconds:”

“That’s not the experience that we want to deliver and that’s a pretty bad Web2 experience when you’re competing with Google with Facebook with all these other applications.”

Yakovenko said after a recent update and the validator count doubling in the past year puts Solana on the path to resolving the network performance issues and added:

“[We’re] in a constant fight between performance, security, throughput, and decentralization, all of these problems [...] whenever you improve one you may actually hurt some of the other ones but I think we've done an amazing job in solving a bunch of those.”

“Obviously we still have challenges with outages and bugs,” he said, but its August partnership with Web3 development firm Jump Crypto to build Solana’s scaling solution called Firedancer — dubbed the long-term fix to the network outage problem — could hold the key.

Related: Solana unveils Google partnership, smartphones, Web3 store at Breakpoint

“Having a second implementation and a second client built by a different team with a fully separate code base, the probability of the same kind of bug existing in both is virtually zero.”

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Bitcoin’s Mining Difficulty Taps All-Time High — 220 Exahash of Hashpower Remains Strong

Bitcoin’s Mining Difficulty Taps All-Time High — 220 Exahash of Hashpower Remains StrongBitcoin’s mining difficulty reached a new all-time high at block height 753,984 from 30.97 trillion hashes to 32.05 trillion hashes. After two difficulty increases during the past month, the network’s mining difficulty jumped another ​​3.45% higher on September 13. Bitcoin’s Difficulty Reaches 32 Trillion The leading cryptocurrency by market capitalization, bitcoin (BTC), is now a […]

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Current Block Times Suggest Bitcoin’s Halving Is Coming Sooner Than Expected

Current Block Times Suggest Bitcoin’s Halving Is Coming Sooner Than ExpectedBitcoin’s hashrate has been running hot despite the lower prices and the recent difficulty increases. In fact, blocks are being discovered faster than the ten-minute block interval average and because of this factor, the network’s reward halving may come sooner than expected. While some halving counters that simply leverage the ten-minute average note the halving […]

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Despite the Low Price, Bitcoin’s Hashrate Remains Elevated as Difficulty Taps an All-Time High

Despite the Low Price, Bitcoin’s Hashrate Remains Elevated as Difficulty Taps an All-Time HighAmid the Terra blockchain meltdown, Bitcoin’s hashrate has been well above the 200 exahash per second range, at 212 EH/s at the time of writing. Bitcoin’s hashpower has remained high after reaching an all-time high on May 02, at block height 734,577. Moreover, while bitcoin miners continue to search for blocks, the network recorded another […]

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Bitcoin Mining Difficulty Hits a Lifetime High After a 5.56% Increase, Metric Nears 30 Trillion

Bitcoin Mining Difficulty Hits a Lifetime High After a 5.56% Increase, Metric Nears 30 TrillionBitcoin’s mining difficulty reached a lifetime high on April 27, at block height 733,824, after jumping 5.56% higher than two weeks ago. The difficulty jump further indicates that Bitcoin’s difficulty is also nearing 30 trillion, as the change on Wednesday shows the current difficulty is 29.79 trillion. It Is Now the Most Difficult Time in […]

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