Bitcoin Mining Now More Difficult
The Bitcoin (BTC) mining challenge has reached its fastest rise in almost a year. The data from the large Chinese mining pool BTC.com clarified this picture. On July 9, Bitcoin (BTC) mining difficulty increased by more than 14% to 9.06 trillion (9.06 T). This was calculated at an average speed of 64.85 EH / s, the all-time high.
The last time the network showed such a sharp increase in the difficulty of producing blocks was the end of July 2018. At that time, the range of 2,016 blocks increased by almost 15%. However, at that time, the average hash rate was 42.59 EH / s and the absolute difficulty was quite low; 5.95 T was watching the level.
As mentioned earlier, Bitcoin's nuisance algorithm is designed to adjust every 2,016 blocks (roughly two weeks) to maintain a consistent 10-minute block validation time.
Typically, when the network sees a low participant mine strength level, the difficulty will increase. During periods of intensive network engagement, it rises as a balancing mechanism.
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