Last Wednesday, the difficulty related to Bitcoin mining reached a record high.
At block number 792,288, mining difficulty increased by 3.4%, crossing the 50 trillion mark for the first time and reaching the unprecedented figure of 51.23 trillion.
What is difficulty in Bitcoin mining and why does it matter?
Bitcoin mining difficulty is a crucial parameter that determines the level of computational effort required to mine new blocks on the blockchain network.
It is designed to adjust every two weeks or so to maintain a constant block generation time of about 10 minutes. This adjustment mechanism ensures that the supply of new Bitcoin in circulation remains stable and predictable.
The recent surge in mining difficulty can be attributed to the significant growth in the network’s hashpower.
Hashpower represents the total computing power dedicated to mining Bitcoin blocks.
Data reveal that about 373 exahash per second (EH/s) of hashrate are currently being committed to the Bitcoin
We współpracy z: https://en.cryptonomist.ch/2023/06/01/bitcoin-mining-new-record-difficulty/
