{"id":20005,"date":"2022-03-04T12:22:44","date_gmt":"2022-03-04T11:22:44","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=20005"},"modified":"2022-03-04T12:22:49","modified_gmt":"2022-03-04T11:22:49","slug":"btc-mining-difficulty-drops-for-the-first-time-since-november","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/btc-mining-difficulty-drops-for-the-first-time-since-november\/","title":{"rendered":"BTC mining difficulty drops for the first time since November"},"content":{"rendered":"\n
After attaining a 6-months all-time high difficulty <\/a>about 2weeks ago, the Bitcoin (BTC) mining difficulty adjustment has lowered for the first time since November 2021, dropping about 1.5%.<\/h5>\n\n\n\n
\"BTC<\/figure><\/div>\n\n\n\n

The change comes after a string of six positive difficulty adjustments in a row, during which the mining<\/a> difficulty and hash rate both reached new highs.<\/p>\n\n\n\n

Over the last two weeks, the average hashrate has dropped to 197.19 exahashes per second (EH\/s), while the average block time has surpassed the 10-minute objective, clocking in at 10 minutes 09 seconds.<\/mark>\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>\n\n\n\n

Miners vying to solve the next valid block will find it slightly easier as a result of the difficulty adjustment.<\/p>\n\n\n\n

\"\"
Bitcoin mining difficulty marginally dropped after an 8-month climb. Source: Glassnode<\/figcaption><\/figure>\n\n\n\n

BTC Mining difficulty<\/h2>\n\n\n\n

One of the most significant elements of the Bitcoin protocol is the difficulty of adjustment. The difficulty of mining a new block “adjusts” every two weeks or 2,016 verified blocks<\/a> based on the average of the previous 2,016 blocks, making it easier or more difficult to mine blocks.<\/p>\n\n\n\n

“The proof-of-work difficulty is calculated by a moving average targeting an average number of blocks each hour,” Satoshi Nakamoto noted in the Bitcoin whitepaper. The difficulty rises if they're generated too quickly.”<\/p>\n\n\n\n

By inference, blocks were generated too slowly over the previous 2,016 blocks – an average of 10 minutes, 09 seconds.<\/p>\n\n\n\n

As a result, the difficulty adjustment is automatically reduced, making it slightly easier for miners<\/a> to solve valid blocks over the next 2,016 blocks.<\/p>\n\n\n\n

The -1.49 percent correction, according to Denver Bitcoin, a well-known Bitcoin miner, could be the only one for the year.<\/p>\n\n\n\n

\n

Bitcoin just had its first downward difficulty adjustment of 2022.

Will it be the only downward adjustment of the year?
Experts still calling for 300eh+ average by December.

Fun times. pic.twitter.com\/l3x8hNevaU<\/use><\/svg><\/span><\/a><\/p>— \ud83c\udfd4Adam O\ud83c\udfd4 (@denverbitcoin) March 3, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

A 1.49 percent correction pales in comparison to the mining abyss of May to July 2021, when a Chinese ban on Bitcoin mining resulted in a catastrophic decline in the hash rate.<\/p>\n\n\n\n

However, it quickly went back up in 2021, increasing by 31% as countries such as Kazakhstan<\/a> and Canada picked up the slack, demonstrating the network's resiliency.<\/p>\n\n\n\n

The Bitcoin mining market is becoming increasingly competitive, with companies like Intel eager to make a dent in the hash rate by introducing their own miners.<\/p>\n\n\n\n

The 300 eh\/s hash rate, as Denver Bitcoin hinted, could be possible by 2022, especially if mining demonstrates increasing resilience and geographic flexibility.<\/p>\n","protected":false},"excerpt":{"rendered":"

After attaining a 6-months all-time high difficulty about 2weeks ago, the Bitcoin (BTC) mining difficulty adjustment has lowered for the first time since November 2021, dropping about 1.5%. The change comes after a string of six positive difficulty adjustments in a row, during which the mining difficulty and hash rate both reached new highs. Over […]<\/p>\n","protected":false},"author":12,"featured_media":20007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[5371,6250,5561],"class_list":["post-20005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin-2","tag-bitcoin-mining-2","tag-btc-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/image-34.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/20005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=20005"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/20005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/20007"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=20005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=20005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=20005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}