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What does the hashrate distribution chart mean (hashrate earnings chart)?

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What does the hashrate distribution chart mean? What is the hashrate distributio

What does the hashrate distribution chart mean (hashrate earnings chart)?

What does the hashrate distribution chart mean? What is the hashrate distribution chart? The hashrate distribution chart is the utilization of computer algorithms to encrypt different types of data. Simply put, it calculates various data by analyzing the work done by miners on different machines and the hashrate they generate. This method can divide this data into two dimensions: mining difficulty and metrics such as hash rate and block time.

The most important of these is mining difficulty, which is a very complex process and takes a long time to reach a certain scale. This process includes a series of mathematical problems, such as proof of work (POW) or random selection of probability generation models, and so on.

Therefore, we can calculate that all nodes in the Bitcoin network, which include all valid blocks, have the same result. Due to the highly decentralized nature of blockchain itself, anyone can participate in the network and obtain the right to verify transactions, thus ensuring the security and reliability of the system. However, if there is not enough user support, the Bitcoin network cannot operate normally.

Hashrate Earnings Chart

Editor’s note: This article is from Caicloud Blockchain (ID: cybtc_com), authorized by Odaily Star Daily to reproduce.

Bitcoin network hashrate and transaction fees are both positive, so mining revenue shows a certain degree of positive correlation with market prices. If we compare the volatility of the average daily hashrate of BTC across the entire network, it can be found that during the bull market at the end of 2017, the price of BTC continued to fluctuate within a relatively high range until it reached its peak on February 19, 2018. Currently, the price of BTC has returned to over $11,000. However, according to historical data, the price of ETH remains stable, but due to recent declines in the market, the transaction fees for Ethereum have been continuously decreasing.

From the chart, it can be seen that since December last year, the total output of Bitcoin in the entire ETH network has reached about 21 million, an increase of over 70% compared to the previous month; at the same time, according to statistics, in the past month, there have been more than 33,000 new Bitcoins produced in the entire network, including 1800 newly mined Bitcoins. In addition, since the beginning of May 2020, all new BTC has shown a significant upward trend, and cryptocurrencies such as ETC and LTC have started to rise again after experiencing a sharp decline. As April the price of BTC broke through new highs, altcoins on Ethereum also performed well. BTC hashrate and mining revenue in the first quarter of 2019:

Source: bitinfocharts.com

From the on-chain indicators, the change in hashrate over the past 7 days has been mostly within 10%, and most of the time has been in sideways consolidation. Although there may be a significant decline in the short term, there is still a certain profit margin in the long run, and as more and more miners join this process, their profit patterns will gradually change to exponential growth.

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