Anticipate the next phase in Bitcoin mining dynamics with the upcoming difficulty adjustment on December 10.
The Bitcoin network has achieved a noteworthy milestone with a recent mining difficulty adjustment at block height 818,496. According to Bitcoin Blockchain Explorer statistics, BTC experienced a 5.07% increase in mining difficulty, reaching a record 67.96 tera-hashes per second.
Colin Wu, a prominent Chinese reporter, highlighted this development on the X platform. The adjustment implies that mining new blocks is now 5.07% more challenging than the previous period, indicating an upsurge in the network hash rate. The current average hash rate for the entire network stands at 504.80 exa-hashes per second, a rise from 486.50 EH/s recorded fourteen days ago.
Mining difficulty adjustments are routine, occurring approximately every 10 minutes for Bitcoin, maintaining a consistent block addition rate. The upcoming adjustment is slated for December 10, at block height 820,512.
A higher hash rate intensifies the challenge of mining new blocks, heightening competition to solve the cryptographic puzzle for block creation. Notably, the recent adjustment reveals the network's resilience and adaptability to changes in mining dynamics.
Earlier this month, the Bitcoin network experienced a temporary disruption in block production, marked by a notable hour-long pause on November 7. The network did not produce a block between 16:47 and 17:56 (UTC+8). This incident underscores the occasional challenges inherent in the decentralized mining process.
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