The Relationship Between Network Computing Power and Blocks (Network Computing Power Chia)

08/15/2023 07:45 • Blockchain Buzz • 116 views

What is the relationship between network computing power and blocks? In the Bitcoin network, blocks are referred to as “consensus,” and miners obtain rewards by performing hash calculations on the nodes in the blockchain. The total value of the mined digital currency is over 1 trillion US dollars (the market value of Ethereum). Due to the relationship between network computing power and block size, the number of transactions each block can generate depends on the content it contains.

The overall network computing power and the quantity of mined coins directly affect the security and stability of the entire network. When a new block is generated, the distribution of network computing power changes. When all validators need to record the block, the following phenomenon occurs: after a block appears, all packaging parties need to send confirmation requests to another person and complete the transfer. Without these signatures, it can cause network blackout or inability to access. This means that as long as one transaction is confirmed, mining of tokens in that block can continue.

Network Computing Power Chia

According to monitoring data, the network computing power of Chia has dropped by 13.85% in the past 24 hours.

As of the time of writing, the average mining income for the past 24 hours is 0.004, with a current block time of 18.67 minutes. It is estimated that the calculations will be completed within the next 48 hours.

When the block height reached around 10,500, a total of 3 large transactions were generated. Among them, 2 were caused by Coinbase forks, resulting in the loss of this airdrop (approximately 100 BTC). According to statistics, this address has been receiving large rewards for multiple days.

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The Relationship Between Network Computing Power and Blocks (Network Computing Power Chia)

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