On October 5th, Bitcoin (BTC)’s mining hashrate recorded a new lifetime all-time high of 278.5126 EH/s. The data provided by BitInfoCharts shows that the average block size at the time was coasting along the 516,042k level.
Bitcoin (BTC) hashrate and what it means
Mining hashrate is a key security metric for the Bitcoin (BTC) network. The hashrate displays the network’s computing (hashing) power calculated by all mining equipment present within the blockchain. The greater this number is, the more secure and attack-resistant the network becomes.
Bitcoin’s hashrate showed the biggest growth since May 2021, reaching 35,6 trillion hashes (+13,55%). The average mining hashrate was bouncing at 250 EH/s.
BTC miners remain unconcerned despite the ongoing bear market. The news comes not long after it was announced that the blockchain’s trading volume surged to $42.68 billion for the first time since mid-June.
📈 #Bitcoin's trading volume has steadily risen since mid-June, while other top cap assets are declining. Trader interests are beginning to return to relative #safehaven assets like $BTC, while the rest of the markets have less trading interest. https://t.co/Cig7zYmOzG pic.twitter.com/vuXJ43eKZzSeptember 30, 2022
The data suggests that investor activity on BTC is growing despite many significant trading volume corrections throughout the year.
Bitcoin (BTC) nodes remain popular among developers
BTC nodes are among the top leading products purchased by web3 developers. The blockchain’s ecosystem can be easily accessed with the help of a blockchain-as-a-service provider. GetBlock is a pioneer player in the industry, with access to over 40 networks, including Bitcoin.
Shared nodes for BTC, hosted by GetBlock, are the perfect solution for beginners and web3 startups. With this option, clients are given access to peer-shared node infrastructure. They can start experimenting with their decentralized applications in testnet right away. Furthermore, Bitcoin blockchain nodes are geographically distributed and safe to use.
Bitcoin dedicated nodes are privately designed according to clients’ individual requirements. Instead of wasting heaps of time and money on self-deploying a BTC node, GetBlock guarantees fast access to secure API endpoints for Bitcoin, where customers set their own rules. The benefits of running a BTC dedicated node with GetBlock include access to JSON-RPC calls, REST, WebSockets APIs, and much more.
Bitcoin node clusters are also available for web3 developers. This option helps users reach high availability with uptime and maximize workload when working with the BTC blockchain.