What does 420K Hashrate mean (400t Hashrate)?

What does 420K hashrate mean? What does 420K hashrate refer to and how is it calculated? Simply put, it refers to the maximum hash rate of the Bitcoin network, calculated based on the average value of each T hashrate. Based on the current estimated mining difficulty, a total of 420,000 bitcoins were mined between May 1st and the end of August 2018.

According to reports, based on the current price of Bitcoin, the final effective Hash is 42k/s. If a block is mined at a speed of 10T, it will result in a reward of approximately 4 million RMB worth of bitcoins. This means that this number is equivalent to 4 billion US dollars in cash produced globally each year, and this portion of money comes from the Chinese market.

Therefore, for many investors, as long as they can acquire enough cryptocurrencies or coins, they can participate in mining. However, for ordinary investors, it is not cost-effective to engage in mining by purchasing mainstream coins such as BTC or ETH. Many people may believe that this investment method could greatly benefit them, but in reality, these funds are not particularly substantial, so they are generally invested in mining.

400t Hashrate

According to official sources, the total capacity of the Bitcoin network, which is hosted by ViaBTC mining pool and provides 400t hashrate, has exceeded 1000P. According to the latest disclosed data from Bitmain, ETC has completed its halving at block height 12888356; it is estimated that on November 18th, 4000 newly mined BTC will join the circulating market value and be repurchased and destroyed.

It is worth noting that in May 2020, ETC announced the start of the second round of reduction plan, issuing a total of 14 million HT and 15 million USDT, with an average of $100,000 obtained for every 1 kilowatt-hour added.