Thursday, December 8, 2022

The company that coined the term ‘hash rate’ is not concerned about its recent decline By Cointelegraph


The company that coined the term ‘hash rate’ is not concerned about its recent decline

Even though the (BTC) hash rate has experienced a sharp decline in recent weeks, the head of research at Blockchain .com, Garrick Hileman is not concerned.

Blockchain .com was founded in 2011 by dissenting members of another early crypto start up — Coinbase. It was one of the first providers of Bitcoin analytics, eventually expanding its services to include a non-custodial wallet, exchange, and crypto lending platform. The company also coined the term “hash rate” as a metric that “estimates [the] number of terahashes per second the Bitcoin network is performing.”

Bitcoin hash rate in 2020. Source: CryptoQuant.

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