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According to Adam Back, blockchain has reduced the workload for the pyramids by reaching a new milestone in the calculation

June 4, 2020

With block # 632874, which was dismantled on June 3, The expected cumulative work of the Bitcoin (BTC) blockchain reached a new milestone.

according to Blockstream co-founder Pieter Wuille has now exceeded 2 ^ 92 double SHA256 hashes or 4951760157141521099596496896 hashes.

Wuille found that the previous milestone, 2 ^ 91 hashes, was secured in August 2019, and also revealed the current rate:

“These days we added 2 ^ 57 hashes, as much work as before November 2010, on average every 1.3 milliseconds …”

According to Adam Back, blockchain has reduced the workload for the pyramids by reaching a new milestone in the calculationAccording to Adam Back, blockchain has reduced the workload for the pyramids by reaching a new milestone in the calculation

The cryptocurrency pioneer Adam Back, cited in the original official document, retweeted Wuille’s insights and blockchain called “a new wonder of the world” that requires “more work” than “the great pyramids of Egypt”:

Bitcoin’s blockchain is the new wonder of the world, more human ingenuity and work than in the great pyramids of Egypt. The greatest calculation ever done, a digital monument, a detectable digital gold artifact: the foundation of a new digital age. “

However, some picked up this message with tweezers. Daira Hopwood, an engineer with the Electric Coin Company or ECC, the company behind the Zcash data protection coin, tweeted:

“The total energy consumption cannot be justified by the level of security here.”

Adam Back’s bullish prediction

Earlier this week, Adam Back predicted that unlimited money printing would drive private investors toward Bitcoin, raising the price to $ 300,000 in five years.

Back added, however, that BTC may not need the institutional wallet to start a new upward trend.