On-chain data shows the Bitcoin mining difficulty has gone through an increase of more than 10% in the latest network adjustment.
Bitcoin Mining Difficulty Has Seen A Sharp Increase In Latest Adjustment
The “mining difficulty” is a core feature of the Bitcoin blockchain that basically exists to control the inflation of the cryptocurrency. While BTC’s supply has a cap, it hasn’t been reached yet, so the asset’s supply is continuously going up.
Miners “mint” new BTC by solving blocks on the network and receiving block subsidies as compensation. These rewards always have a fixed BTC value attached to them, except for during Halving events, which take place about every four years and permanently slash them in half.
As such, the only way to increase the production rate of the token is by producing blocks faster. Miners can do this by adding extra computing power, thus increasing their total “hashrate.”
This effect, however, lasts only momentarily, thanks to th
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