Cambridge University Researchers Launch Global Bitcoin Hashrate Map
The Cambridge Center for Alternative Finance (CCAF), an affiliate of the University of Cambridge dedicated to the study of alternative finance and financial channels, has developed a new Bitcoin data tool called the Bitcoin Mining Map. The team claims the solution helps users get a clear picture of the global monthly bitcoin mining hashrate, according to reports on May 7, 2020.
CCAF Unveils New Bitcoin Mining Data Tool
In a bid to foster more transparency in the bitcoin mining ecosystem and help researchers to better calibrate their parameters, the Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School, has developed a new bitcoin mining data pool.
Dubbed the Bitcoin Mining Map, the team claims the system has the ability to visualize the total monthly bitcoin mining hashrate of various countries and also provides users with comprehensive data for comparing mining operations of Chinese provinces.
As always, China still has the largest Bitcoin mining hashrate in the world, maintaining a massive 65 percent global share, despite the nation’s harsh cryptocurrency policies, while the United States and Russia manage a meager 7 percent.
Explaining further, the team says its bitcoin mining hashrate data was derived from application programming interfaces (APIs) connected to three leading mining pools including BTC.com, Poolin, and ViaBTC and it spent 12 months putting them together.
According to the latest statistics, Poolin is the second-largest bitcoin mining pool in the world, with a decent 14.73 percent share, while BTC.com and ViaBTC occupy the fourth and fifth positions with 13.39 percent and 6.92 percent respectively.
Though the new Bitcoin Mining Map only covers 37 percent of the total global hashrate, the CCAF team led by Apolline Blandin has hinted that it plans to gather and plug-in data from more bitcoin mining pools to make its tool more robust.
What’s more, in the CCAF Bitcoin Mining App, China’s Xinjiang province currently has the highest concentration of hashrate and the Zhejiang province has the highest number of miners using virtual private networks (VPNs) to hide their IP addresses.
Against that backdrop, CCAF says it had to divide the hashrate of Zhejiang province proportionally among other Chinese provinces listed in the pools dataset to get a clearer picture.
At press time Bitcoin (BTC) price is up by 0.28 percent, trading at $9,286.98, with a market capitalization of $170.57 billion, as seen on CoinMarketCap.