353
140 shares, 353 points

The mining difficulty of the Bitcoin network has seen a historic drop, taking into account the recent drop in hash rate. This final difficulty setting was the largest in its history. The BTC network is experiencing its biggest ever difficulty drop of around 28%. Well what does it mean?

(mtag101702)

The mining difficulty of the Bitcoin network has seen a historic drop!

(mtag101702)

The mining difficulty of the Bitcoin network dropped by 27.9% as the network adjusted to the massive drop in hash rate. This is the biggest drop in mining difficulty since the network went live in 2009. The BTC network updates the mining difficulty level every 2,016 blocks, roughly every two weeks. This is designed to ensure that blocks are produced every ten minutes despite a fluctuating hash rate. And in this case, the hash rate is definitely volatile. Cryptocoin. com

As we previously reported , since the previous adjustment on June 13, Bitcoin’s seven-day hash rate has dropped from 136.47 EH/s to 85 EH/s, crashing 35%. .

(mtag101702)

This was largely due to the pressure on Bitcoin mining in China, which caused hash rate migration as miners moved operations elsewhere. The final record decline on Saturday was at a much higher percentage than was predicted a week ago. This lower hash rate led to a slower block generation rate as the remaining hashrate could not keep up with the high difficulty level. Over the past two weeks, blocks have been produced on average almost every 13.9 minutes, which is much higher than usual. On July 1, it even took 129 minutes to create a block, the longest since 2011. However, it is worth noting that multiple factors come into play here, including the natural variance in block times.

(mtag101702)

Difficulty dropped by 28 percent! Well what does it mean?

(mtag101702)

Difficulty dropped by 28 percent, which was recorded as the biggest difficulty drop in history. Well what does it mean? Lower difficulty means more profitable BTC mining. If profitability increases, this makes BTC mining more attractive. As a result of the increased interest in mining, it can be expected that the hash rate will recover and return to its former levels.

(mtag101702)

Disclaimer: Cryptocoin. The articles and articles on com do not constitute investment advice. Cryptocoin. com does not recommend buying or selling any cryptocurrencies or digital assets or Cryptocoins. com is not an investment advisor. Hence Cryptocoin. com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

(mtag101702)

Warning: Cryptocoin. Citing the news content of com and quoting by giving a link Cryptokoin. com’s permission. No content on the site can be copied, reproduced or published on any platform without permission. Cryptocoin. Legal action will be taken against those who use code, design, text, graphics and all other content of com in violation of intellectual property law and relevant legislation. .

(mtag101702)


Like it? Share with your friends!

353
140 shares, 353 points

What's Your Reaction?

hate hate
613
hate
confused confused
122
confused
fail fail
981
fail
fun fun
858
fun
geeky geeky
736
geeky
love love
368
love
lol lol
490
lol
omg omg
122
omg
win win
981
win

0 Comments

Your email address will not be published. Required fields are marked *