13 May '13, 3pm

The bitcoin network is now more powerful than the top 500 supercomputers, combined

Add up the combined computing power of the 500 fastest supercomputers in the world—that’s billions upon billions of dollars worth of hardware—and stack it up against to the raw processing power of every computer currently producing the alternative currency bitcoin, and what do you get? The network of computers “mining” bitcoin is more powerful —eight times more powerful, in fact. And that’s not all: The bitcoin network also qualifies as the world’s first exascale computer, meaning it’s capable of a quintillion floating point calculations per second . Some people argue that exascale computing will make possible everything from predicting the effects of climate change to producing energy with fusion . Supercomputers aren’t expected to achieve that speed until sometime around 2020 . However, bitcoin mining is distributed among the multitude of machines that devote computing p...

Full article: http://qz.com/84056/the-bitcoin-network-is-now-more-power...

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