Part 2/6:
Crowder emphasizes the importance of security when storing savings in the crypto world. He likens the selection of a cryptocurrency to choosing a safe to store money, advocating for the strongest option available. Just as a steel safe outperforms weaker materials like straw or wood, BTC's robust security measures distinguish it from BCH and BSV.
The Hash Rate: A Key Indicator of Security
A critical metric in assessing the security of any cryptocurrency is its hash rate. Mining cryptocurrencies involve computing power to solve complex algorithms; a higher hash rate suggests greater security. Crowder elaborates on the SHA-256 hashing algorithm, employed by BTC, BCH, and BSV.
He breaks down the hash rates of the three cryptocurrencies in question:
- BSV: 625 Petahashes per second