Kazakhstan internet shutdown due to the state of emergency reveals Kazakhstan’s overall mining capacity. Let’s find out more about this.
Kazakhstan, the largest land locked country in the world. The country has a special role in the crypto world. Kazakhstan came as a haven for all the crypto refugees from the Chinese crackdown on Crypto Mining. While it is known that Kazakhstan is a hot spot for crypto mining, the exact figure of the mining happening in Kazakhstan was unknown. However, this figure might not be hidden anymore. At least, we now have a rough estimate of all the mining taking place in this Central Asian country.
The government of Kazakhstan on Sunday increased the fuel prices by two fold. This was because of the government lifting price caps for (Liquid Petroleum Gas). This has is used as a fuel for cooking application and as fuel for Automobiles.
The citizens of Kazakhstan weren’t happy with this decision. And as a result there were widespread protests across the country. The protests were also against the president’s increasing autocratic rule.
Unsurprisingly, Kazakhstan’s President Kassym-Jomart Tokayev soon dissolved the government and immediately declared a state of emergency. The two week state of emergency gave the President freedom to exercise some Powers that are not generally acceptable in peace days. Exercising his newfound powers, Internet services were shut off and messaging apps were banned.
How this revealed the country’s mining capacity?
Mining requires a constant connection with the internet. If the miner cannot connect to the internet, he will not be able to perform the mining task. Due to the internet services being shut down, the miners lost connection to the Blockchain network. Or the ‘hash rate’ goes down. Hash rate is the computational power of the network per second when used for mining. It means how many calculations can be performed per second. To mine a Bitcoin, a miner has to run the random codes to win a block reward.
This information was by Larry Cermak of the Block, in a tweet. Hs put light to the fact that a whopping 12% of Bitcoin’s hash rate dropped in a matter of hours. The data also revealed sharp declines for a number of miners operating in Kazakhstan. The hash rates for AntPool, Poolin and Binance Pool all fell between 11.6% and 14.6%.
Kazakhstan internet shutdown due to the state of emergency reveals Kazakhstan’s overall mining capacity. This gave a rough estimate about the hash rate of Kazakhstan.
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