BlocksInform
bitcoin (btc) hash rate has returned to all-time highs despite losing a key hash rate contributor. meanwhile, amid lackluster price action, block ceo jack dorsey confirmed the creation of an open bitcoin mining system.
BTC space continues to surprise and confuse critics and bigots. kazakhstan, the network's second most important btc mining country, experienced an internet blackout last week due to civil unrest. However, the hash ratio did not fall by more than 13.4% before returning to historic highs.
as shown in the below data from glassnode, with the price checking into the $42,000 range yesterday, the mean hash rate hit 215 million terahash per second.
bitcoin miners continue to show resilience and as fidelity digital assets observed, the network is even “more widely distributed around the world.”
cointelegraph previously reported that block would develop open-source bitcoin mining systems in 2022 due to job postings on linkedin. yesterday, jack dorsey confirmed the hunch, retweeting comments made by thomas templeton, a general manager at block.
In the Twitter feed, templeton addressed issues related to the availability, reliability, performance and products related to CTC mining. in sum, block’s goals for btc mining are the following:
“we want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining. we’re interested because mining goes far beyond creating new bitcoin. we see it as a long-term need for a future that is fully decentralized and permissionless.”
related: jack dorsey announces bitcoin legal defense fund
building a btc mining system “out in the open” and alongside the community is no mean feat. econoalchemist, an established home btc miner and btc magazine contributor, tweeted that developing products in open source would “build trust where no reputation exists currently and also might shift consumer expectations in that direction.”
In the end, block mining solutions can pave the way for more diy miners to get into space.
Looks like the sky's the limit to the hash rate. At least until the next blocks of 2016 when the problem of the network resets.
