The collapse of Bitcoin Hasrat actually was not, but then what?

According to experts, with hasraton network of Bitcoin actually nothing happened, i.e. no collapse was not. According to them, it was a technical error and not a real problem. We will remind, on Monday, Hasrat of Bitcoin — that is, the total computing power of all miners in the network — dropped by 40 percent. This provoked panic and caused a lot of issues for network security.

Later it turned out that there is absolutely nothing to worry about. According to experts, the mistake was technical, so explaining it is difficult. Let’s try to understand.

Recent subsidence Hasrat Bitcoin on the chart. Source: Blockchain.com

Hasrat cryptocurrency network is the total capacity of all mining-equipment used in the solution of mathematical problems in the process of production of new BTC. Roughly speaking, the miners sit and sort the hashes in an attempt to find one that meets the specified criteria. At the same time is spent on computing power protecting the Bitcoin blockchain and allows you to earn, because users pay the fee.

Last Wednesday, Hasrat Bitcoin has set a new maximum at around 102 Asahara per second. By the way, it’s incredibly much. And earlier this week, the network capacity somehow have fallen sharply from 98 to 67 eksegesis is an incredible drop for at least a third indicator. However, as we found out, the problem lies only in the wrong display of statistics.

It should be noted the decentralized nature of the Bitcoin network. What does it mean? When you say it, we mean thousands of individual actors — people with the computing equipment, from external hard drives to entire server rooms with ASIC miners. And in fact to find out the real total Hasrat network of Bitcoin, you need to interview each of these regions. Of course, this is impractical.

Source: 2Miners.com

Instead, data providers and sites monitoring working in the opposite direction and use statistical methods for evaluating the current Hasrat. In this case, they look at the rate at which blocks are mined Bitcoin and take into account the level of difficulty of mining with the network. That is, the statistics that we see is obtained by a combination of several assessment methods.

But this is not the true indicator

The model of the Bitcoin blockchain is programmed in such a way that new blocks are created on average every 10 minutes. However, if some blocks are completed faster or slower, it certainly would have affected the rating Hasrat. That is, if miners mined several blocks in a row slower than expected, then on the chart Hasrat formed like a failure.

And to figure out this situation for sure, you have to interview all the miners, which is likely technically impossible. Obviously, this would be an explanation of the recent collapse Hasrat.

The point here is that Hasrat is to evaluate at a larger time interval: weekly or monthly. This will help neutralize all of these anomalies. According to the head of the security Department in blockchain technology company Blockstream Samson MOU, meaning long lasting changes in Hasrat statistically significant time periods. He believes, any valuable information is the statistics, for example, two weeks.

But then what caused the collapse at this time?

According to the researcher on the blockchain the platform Cosmos Sunny Aggarwal, “another possible reason is that some mining-pool or large farm experienced a technical glitch”.

Source: 2Биткоина

Or maybe they just did the migration software or, for example, moved to another room and therefore had to stop production. This theory is more like the truth.

But the point is that the truth we will never know unless the perpetrators of the collapse are themselves not recognized. However, to worry about the problem now, just not worth it. In our cryptodata there are still a lot of other useful information, look into.

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