The aproximate computing power of current Bitcoin network in terms of FLOPS (FP32) has been estimated at about ~80,000 exaFLOPS and being aware of the limits of the analogy because of the widespread use of ASICs in Bitcoin mining. I was wondering the computing power of the main Ethereum network, which is currently running on ~8900 nodes and using Keccak256 as its main hash function, which is one that could be GPU accelerated biased toward using traditional GPUs rather than ASICs, peaks now at ~242 TH/s.

A very rough estimate would be for example:

A Nvidia 1070 Ti graphics card has a hashrate of ~31 MH/s (7.5 teraFLOPS)
Current hashrate is about ~242 TH/s
242 (TH/s) / 31 (MH/s) = 7,834,101 (~58 exaFLOPS)

So, current ETH computing power is about 58 times bigger than the current world faster supercomputer Fugaku which peaks at ~1 exaFLOPS.

Is it possible to know the actual computing power (in FLOPS) of the ETH network or sum of the underlying hardware? If we're building a peer-to-peer general purpose worldwide computer, wouldn't be nice to know current power instead of just hashing rate?

  • 1
    The number of nodes is critical - you count the miners. Also the "passive" nodes are important. Here the numbers are much higher >1.100.000 (compare with etherscan.io/nodetracker) – Markus Sprunck Sep 27 '20 at 7:38

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