Bitcoin’s halving, one of the most highly-anticipated events within the entire cryptocurrency community, is currently scheduled to take place on May 16th. However, some are already suggesting that the date could move closer to as soon as April 2020 because of the rapid acceleration in the network’s hash rate.
Bitcoin’s Hash Rate Accelerates Quickly
In order to understand the importance of Bitcoin’s hash rate, it’s important to explain how does mining work.
When someone has a Bitcoin wallet and he wants to send some BTC from his wallet’s address to another one, he has to create a transaction and sign it with his private and public key and broadcast the transaction on the Bitcoin network. The goal is to add this new transaction to one of the next blocks which will be added…