The bitcoin network reached another historic milestone milestone today, achieving an estimated total computational speed of 1 petahash per second (1 PH/s = 1,000,000 GH/s). The current speed is 40x faster than where we began the year, faster than 79% of the bitcoin community expected as of just seven months ago. The path to this point goes back to the genesis block itself and offers insight into the foundations of the world’s first digital currency. In the Beginning After Satoshi mined the genesis block on January 3, 2009, the first difficulty increase took nearly a full year, occurring on December …
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Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. This is the second part in a 4 part series discussing the current state of bitcoin mining: What is bitcoin mining? The evolution of mining Current ASIC Hardware Bitcoin mining – public companies There have been four significant phases of mining since Bitcoins inception on January 3rd, 2009: personal computer’s processors (CPU), graphics cards (GPU), programmable cards (FPGA), and ultimately fully customized circuits (ASIC). We’ll discuss these in context of the bitcoin eco-system, and as a preface for our next two sections on ASIC hardware …
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Apr 2, 2013
Posted
Bitcoin 201, Mining
Tagged Application-specific integrated circuit, ASIC, Bitcoin, Bitcoin Mining Dashboard, Central processing unit, CPU, Creation, Field-programmable gate array, Gensis Block, GPU, Graphic Processing Units, History, NVIDIA, software
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