Bitcoin touches 17.35 trillion difficulty metric! Bitcoin touches 17.35 trillion today – jumping nearly 10%.
Difficulty is the value used to measure how difficult it is to find a hash below a target in the Bitcoin Network. The network has a block difficulty – validated blocks must have a hash below the given target.
The lower the difficulty, the easier it is to find blocks on the network. Conversely, the higher the difficulty, the more difficult it is to acquire bitcoins by mining. The difficulty changes every two weeks.
17.35 trillion is the highest the difficulty has ever been. More importantly, the halvening, the cutting of block rewards by 50%, happened only 2 months ago.
The BTC has grate has remained high above the 120 EH/s range. There are 16 mining pools hashing away at the BTC network.
If the overall BTC hash rate continues to climb higher, than the difficulty will rise again in 2 weeks’ time. If miners exit the mining process due to the increased difficulty, the difficulty will drop after the next 2016 blocks are consumed.
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