- The crypto space has witnessed a topsy turvy week, and amid that, Ethereum’s hashrate witnessed an all-time high at a block height of 14,770,231.
- Miners would carry on with their work till the Ethereum network’s complete transition to the PoS model.
- Ethereum (ETH) is currently trading at $2,010 and is down by around 1.15% in the last twenty-four hours.
The Proof-of-Work miners are working harder than ever before to mine the second
the largest crypto by market cap before the upcoming merge.
The overall crypto market saw a shocking instance when UST lost its peg, which affected LUNA massively. But amid all this, Ethereum’s hashrate witnessed an all-time-high on May 13, with a block height of 14,770,231.
That day, the network hit 1.27 petahash per second, and the processing power is currently functioning at 1.16 PH/s. It seems like the miners have been hashing away at the network and would continue to do so till Ethereum’s transition to the Proof-of-Stake (PoS) transition.
If we talk about the earlier performance, since June 28, 2021, Ethereum’s network hashrate peaked 124.33%, from 0.526 PH/s to the current 1.16 PH/s. Ethereum miners are still profiting highly amid the market meltdown.
Ethermine(dot)org is the topmost mining pool presently, with 303.12 TH/s of computational power. At the same time, the second largest is F2pool, having 155.35 TH/s, and then comes Poolin, which accounts for the third-largest share with 121.69 TH/s.
The network has over 80 mining pools contributing hashrate to the Ethereum blockchain utilizing the PoW model. And they might continue to do so till the Merge happens as they would not be able to as the network is planning on a complete transition to the PoS model. It is to look forward to when exactly the Merge takes place.
At the time of writing, Ethereum (ETH) is trading at $2,010 with a market cap of $242,817,544,354 and is down by around 1.15% in the last twenty-four hours.
Source: https://www.thecoinrepublic.com/2022/05/16/ethereums-hashrate-reaches-its-peak-amid-the-slippery-crypto-market/