Bitcoin’s fundamentals exhibited a strong bull wave as it continued to break previously set resistance points. The world’s largest cryptocurrency, Bitcoin [BTC], has been on the rise after breaching the $9,000 mark yet again.
Bitcoin’s hash rate recently surpassed its all-time high and it continued to soar at press time. The computing power required to validate the network was set at 65.19 EH/s, according to Blockchain.com. This implied greater security for the network by reducing potential threats by fraudulent entities with the increase in the number of active mining nodes.
Latest trends suggest that Bitcoin’s mining hash rate distribution was recorded to be more than any other Proof of Work [PoW]-based digital currency, including Ethereum [ETH] and Bitcoin’s silver counterpart, Litecoin [LTC].
According to the above data by Blockchain.com, a significant 19.9% of Bitcoin network’s hashrate is dominated by BTC.com. This was followed by AntPool at 14.5%, F2Pool at 11.9% and 9.6% by Poolin. 12.7% is contributed to by unknown mining pools.
Earlier in May, Diar had revealed that smaller mining pools contributing to the Bitcoin network had posted major gains. Around 24% of Bitcoin transactions were validated by these smaller mining pools in the month of March and April. Further, the report stated that the unknown miners count had gone down and several minor mining pools had joined the bandwagon, along with the larger ones to contribute to the network.
Additionally, according to the data posted by BTC.com, Ethereum’s hash rate was contributed to by two major mining pools. Etheremine accounted for 27.91% of ETH network’s hash rate, while SparkPool was the second highest contributor with 25.79%.
According to Nonpolitical, the hash rate distribution for Litecoin over the last 24 hours was contributed to by Poolin with 21.4% and F2Pool with 17.2%. This was followed by Antpool with 13% and LitecoinPool.org with 10.4%.
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