Bitcoin difficulty will probably increase by 3.82 % of 39 trillion after the recent increase-mining Bitcoin messages
Bitcoin difficulty will probably increase by 3.82 % of 39 trillion after the recent increase-mining Bitcoin messages
The Bitcoin network is expected to record another significant increase in difficulty on Sunday, January 29, 2023, since current estimates expect an increase of 3.82 %. The change follows the last difficulty retargeting, which has increased by 10.26 % to the current all-time high of 37.59 trillion.
breakdown of the block time: How faster detection affects Bitcoin difficulty
In a little more than one day, the Bitcoin network will record a difficulty increase of around 3.82 %, according to current estimates. At the moment, the mining difficulty with 37.59 trillions is already on an all-time high (ATH) and with a 3.82 % jump expected that it is 39.03 trillion. The number of hashes that is needed to mine a block is directly proportional to the level of difficulty, which means that every participating miner has to carry out 39.03 trillion hashes to minel a block on this level.
The average Bitcoin block time was approximately 8:54 minutes 9:31 minutes , which is below the 10-minute average. This is also in a linear connection with the estimated increase, which is expected on January 29th.
Because if blocks are discovered faster than in the 10-minute average, the 2,016 blocks between the difficulty retargets are also found faster than in the two-week average. As a result, the mining difficulty of the Bitcoin protocol increases. With bitcoin The higher the price of, the more hashate the Blockchain was devoted.
The Hashrate of Bitcoin is high with an average of 278.2 Exahash per second (EH/S) during the last 2,016 blocks. Foundry USA orders the top position with regard to mining pools with the greatest amount of dedicated SHA256-Hashrates. Foundry has about 93.82 EH/s over a period of three days, which makes up for 32.99 % of the network's computing power. The Bitcoin mining pool Antpool has dedicated 49.57 EH/s to the Bitcoin network over a period of three days, which corresponds to 17.43 % of the hashpower.
What effects will this increase in difficulty in your opinion have on the entire Bitcoin network and its miners? Share your thoughts in the comments below.
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