It is a year and a half since the previous all time high at $20k. Since then, Bitcoin hashing power has become 8 times more powerful, reaching 79.7 EH/s on July 20.
In order to understand how enormous the calculating power that protects the Bitcoin Network is, we are going to compare it with some of the largest supercomputers in the world.
Bitcoin Hashing Power Beats All Supercomputers Combined
Currently, Bitcoin hashing power is 63.5 EH/s and in order to compare it to a supercomputer’s calculating power we need to measure it into FLOPS. In that case Bitcoin hashrate in FLOPS is 80.704.290,84 PetaFLOPS.
In the list below we can see the Top 10 supercomputers in the world and their speeds in TeraFLOPS.
Even the sum of the speeds from the Top 10 supercomputers is very far from reaching Bitcoin Network speed.
This makes Bitcoin Network the most secure network on the face of the earth. On the other side though, many are criticizing that the network’s power is only good for a very specific thing. That is calculating SHA-256.
It is true, the hardware that currently is used to mine Bitcoins and solve the very difficult mathematical problem, is engineered and produced for this purpose only and it worthless to other kind of calculations. That doesn’t mean it doesn’t have a very important purpose.