Three days ago, on Dec. 23, 2023, Bitcoin marked its 27th and final difficulty adjustment for the year. This year witnessed 27 shifts in epochs, with the most substantial one on Jan. 15 at block 772,128, seeing a surge in network difficulty by 10.26%.
Bitcoin’s Year: 20 Ups, 7 Downs Total 74% Difficulty Surge
By Jan. 4, 2024, it’s anticipated that Bitcoin will undergo another uptick in mining difficulty. This metric, changing every 2,016 blocks or roughly two weeks, maintains the average interval between blocks at approximately 10 minutes. It does so regardless of the fluctuating mining power within the network. This mechanism stabilizes the issuance rate of new bitcoins, enhancing network security by making block discoveries more challenging as the hashrate either increases or decreases.
Throughout 2023, the network experienced a total of 27 difficulty changes, comprising 20 increases and seven decreases. The most notable hike was on Jan. 15, rocketing by 10.26%. Conversely, the s
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