All About BTC, LTC, ETH mining as well as other alternative crypto currencies
The total network hashrate of the Bitcoin network has reached another major milestone, passing over 1 Exahash per second or 1000 Petahashes per second peaking at 1,008,642,232 GHS according to the data from Blockchain.info. Interestingly enough the total network hashrate at the previous difficulty adjustment on January 13th was just about 811 Petahashes and back in November last year the hashrate was just about 500 Petahashes per second or half than what it is now. This is really serious and fast growth of the total network hashrate that Bitcoin is experiencing doubling in just about two months. So what comes next after Exahashes per second, can you guess when the network hashrate will get to Zettabytes or Yottabytes… maybe we are going to see these in the near future if it continues to grow at such fast pace.
At the moment it seems as if somebody is deliberately stress testing the Bitoin network by sending more and more transactions, so the queue of unconfirmed transactions is currently at over 6000 and continue to increase. With so many unconfirmed transactions waiting to be included in a block this brings the debate around the current limit of 1 MB block size and if this limit should be increased. It could be like somebody is intentionally testing how will the network handle the extra load in its current state causing the presence of so many unconfirmed transactions waiting in the queue. Or maybe, though not very likely, the Bitcoin network is currently overwhelmed with too many real users moving Bitcoins around causing a big queue and having people wait more for their transactions to be confirmed.
If you are just getting into Bitcoins and started by installing the Bitcoin wallet on your computer you may notice that the synchronization process with the Bitcoin network is taking up quite some time. This is due to the very large blockchain that has been generated so far and it will continue to grow even bigger, so besides more than 10 Gigabytes of space you need to be ready to wait a bit. There is however a clever solution that might speed thing up, you can download a file to help you import most of the blockchain locally much faster and then synchronize with the rest of the network in no time.
What to do guide:
– Download and install the Bitcoin wallet software, run it and then close it.
– Download the bootstrap.dat file (via a torrent client).
– Copy the bootstrap.dat file in the folder \Users\YOUR_WINDOWS_USERNAME\AppData\Roaming\Bitcoin (for Windows) or in the Bitcoin data folder for other OSes
– Run the Bitcoin software to import most of the blockchain locally and then to download only the rest and synchronize the client
This will get you up to speed and running in no time and much faster than running the Bitcoin client and waiting for it to download and synchronize the complete blockchain from the start to the most recent blocks.