The Bitcoin network difficulty is determined by the overall computational power, which co-relates to the difficulty in confirming transactions and mining BTC. As evidenced by the blockchain.com data, the network difficulty saw a downfall between May and July 2021 due to various reasons including a blanket ban on crypto mining from China.The Bitcoin (BTC) network has recorded a … [Read more...] about Bitcoin records all-time high network difficulty amid price fluctuations
Difficulty
Bitcoin Mining Difficulty Sets New All-Time High
Mining difficulty on the Bitcoin network increased by 9.32% and hit an all-time high of 26.64 trillion on Jan. 21, at 3:07 UTC, beating the previous record set on May 13, 2021.The difficulty is automatically adjusted based the amount of computational power on the network, or hashrate, to keep the time it takes to mine a block roughly stable at 10 minutes. The higher the … [Read more...] about Bitcoin Mining Difficulty Sets New All-Time High
Why Ethereum’s ‘Difficulty Bomb’ Has Been Delayed Again
The Ethereum network recently underwent the Arrow Glacier hard fork on Dec. 9, with the sole purpose of delaying the “difficulty bomb” to June of next year. The difficulty bomb is a mechanism to force the proof-of-work network to stop producing blocks, making mining unprofitable and disincentivizing miners from keeping the chain alive after the network merges to … [Read more...] about Why Ethereum’s ‘Difficulty Bomb’ Has Been Delayed Again
Coinbase adds ‘ETH2’ despite tomorrow’s Ethereum upgrade postponing difficulty bomb
Cryptocurrency exchange Coinbase has added a mirrored version of the Ethereum blockchain's native token Ether (ETH) to its crypto price index, just ahead of a key network upgrade on Dec. 10.Dubbed "ETH2," the symbol appeared to have been tracking the original Ether market data synchronously. For instance, the cost to purchase ETH2 came out to be the same as that for ETH. … [Read more...] about Coinbase adds ‘ETH2’ despite tomorrow’s Ethereum upgrade postponing difficulty bomb
Bitfarms Mined 339 Bitcoin in November as Network Difficulty Increased
Mining company Bitfarms said it mined 339 bitcoins in November, down from 343 in October, as network difficult increased.The Nasdaq and Toronto Stock Exchange-listed firm reported Wednesday having mined 3,089 BTC in the first 11 months of the year.Bitfarm said it was able to maintain production levels due to the delivery and installation of mining equipment, driving a 16% … [Read more...] about Bitfarms Mined 339 Bitcoin in November as Network Difficulty Increased