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CH12: Futureproof by removing table & graphics of hashrate changes

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David A. Harding 2023-05-25 13:40:08 -10:00
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@ -1739,44 +1739,8 @@ chips specialized for the purpose of mining. The first such chips could
deliver more mining power in a single box than the entire Bitcoin deliver more mining power in a single box than the entire Bitcoin
network in 2010. network in 2010.
The following list shows the total hashing power of the Bitcoin network, At the time of writing, it is believed that there are no more giant
over the first eight years of operation: leaps left in Bitcoin mining equipment,
2009:: 0.5 MH/sec–8 MH/sec (16× growth)
2010:: 8 MH/sec–116 GH/sec (14,500× growth)
2011:: 116 GH/sec–9 TH/sec (78× growth)
2012:: 9 TH/sec–23 TH/sec (2.5× growth)
2013:: 23 TH/sec–10 PH/sec (450× growth)
2014:: 10 PH/sec–300 PH/sec (30× growth)
2015:: 300 PH/sec-800 PH/sec (2.66× growth)
2016:: 800 PH/sec-2.5 EH/sec (3.12× growth)
In the chart in <<network_hashing_power>>, we can see that Bitcoin
network's hashing power increased over the past two years. As you can
see, the competition between miners and the growth of bitcoin has
resulted in an exponential increase in the hashing power (total hashes
per second across the network).
[[network_hashing_power]]
.Total hashing power, terahashes per second (TH/sec)
image::images/mbc2_1007.png["NetworkHashingRate"]
As the amount of hashing power applied to mining bitcoin has exploded,
the difficulty has risen to match it. The difficulty metric in the chart
shown in <<bitcoin_difficulty>> is measured as a ratio of current
difficulty over minimum difficulty (the difficulty of the first block).
[[bitcoin_difficulty]]
.Bitcoin's mining difficulty metric
image::images/mbc2_1008.png["BitcoinDifficulty"]
In the last two years, the ASIC mining chips have become increasingly
denser, approaching the cutting edge of silicon fabrication with a
feature size (resolution) of 16 nanometers (nm). Currently, ASIC
manufacturers are aiming to overtake general-purpose CPU chip
manufacturers, designing chips with a feature size of 14 nm, because the
profitability of mining is driving this industry even faster than
general computing. There are no more giant leaps left in bitcoin mining,
because the industry has reached the forefront of Moore's Law, which because the industry has reached the forefront of Moore's Law, which
stipulates that computing density will double approximately every 18 stipulates that computing density will double approximately every 18
months. Still, the mining power of the network continues to advance at months. Still, the mining power of the network continues to advance at