Data on the chain show that Bitcoin became more complex to extract, because network difficulty was witnessed by growth during the last correction.
The Bitcoin difficulty has just set novel all time
According to the data with CoinwarzBitcoin difficulty has increased in the latest regulation. “Difficulty” here refers to the BTC blockchain function, which controls how strongly miners will now find him to extract blocks on the web. It is measured in “shortcuts” units.
The value of the record changes every two weeks during the so -called “network adjustment”. As with other aspects of BTC blockchain, no man has control over corrections; The code written by Satoshi automatically runs these events.
As for why the nicknamed creator added this function to the cryptocurrency, the reason is that the time of the block on the chain remains consistent about 10 minutes per block.
If the block time exceeds 10 minutes, it means that miners do their job slower than usual. To improve this, the network imposes difficulty in the next regulation. Similarly, it increases the record if the miners knock down blocks faster than 10 minutes for everyone.
The last Bitcoin regulation took place last weekend. Below is a chart showing how the difficulty in this event has changed.
Looks like the value of the metric has seen a keen surge over the past couple of days | Source: CoinWarz
As you can see in the chart, the network increased rapidly during this regulation. Before the event, the record amounted to 108.1 Terahashes, but now it jumped to 114.1 Terahashes, Novel All Time (ATH).
This significant positive change by 5.6% means that miners have been much faster in the last few weeks compared to the two -week period.
A faster rate of miners is the result of aggressive expansion in which they recently participated. Below is the chart Blockchain.com In the case of Hashrat, which shows this growth on mining farms.
The trend in the 7-day average BTC Hashrate over the last twelve months | Source: Blockchain.com
“Hashrate” here is an indicator that tracks the total amount of computing power, which miners currently connected to the Bitcoin network. Its value is marked in terms of “abbreviations per second”.
The map shows that Hashrate got stuck in consolidation in the second half of last month, but the stubborn shoot in the record appeared this month and quite a spectacular way.
After the relentless expansion of Górnik, the indicator established a novel ATH around 845 200 Terahashs per second last Saturday. While miners have recently demonstrated enthusiasm, it is possible that the explosion of difficulties would make some of them go back in the coming days.
BTC price
At the time of writing, Bitcoin has about USD 98,200, which is an raise of almost 4% in the last seven days.
The price of the coin seems to have been moving flat recently | Source: BTCUSDT on TradingView
A distinguished painting with Dall-E, Blockchain.com, Coinwarz.com, Chart from TradingView.com
