2023-10-30 14:05 |
Quick Take
Bitcoin’s mining difficulty, an important metric for the health of the network, has seen another positive adjustment, 62.46T, marking the fourth consecutive rise. This time, the increase is slightly over 2%, a subtle yet important change that signifies the continued growth and resilience of the network.
Difficulty: (Source: Glassnode)As a consequence of this adjustment, the hash rate—representing the processing power of the Bitcoin network—has experienced a surge. Currently, it hovers just under 450 exahashes per second (eh/s), based on a 7-day moving average. The hash rate is a key indicator of miner participation and overall network security.
CryptoSlate previously addressed the impact of such hash rate surges, particularly in the context of halving events. Halving, a pre-programmed reduction in the reward miners receive for adding a new block to the blockchain, has potential implications on the hash rate — not only affecting the miners but also shapes the broader landscape of Bitcoin’s market dynamics.
Hash Rate: (Source: Glassnode)The post Bitcoin’s mining difficulty adjusts upwards for the fourth consecutive time appeared first on CryptoSlate.
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