The data on the series shows that Bitcoin has become more difficult because the network’s difficulty has seen an increase during the latest modification.
I only set Bitcoin’s difficulty
According to data from CoinwarzBitcoin’s difficulty increased in the latest modification. “Difficulty” here refers to an advantage on BTC Blockchain that controls how difficult it is to find from mines in mine blocks on the network at the present time. It is measured with “fragmentation” units.
The value of the scale changes about two weeks during what is known as “network control”. Just as with the other aspects of BTC Blockchain, there is no human being who has any control over modifications; The code written by Satoshi runs these events automatically.
As for the reason for the permitted creator, the creator added this advantage to the cryptocurrency, and the reason is that the mass time in the chain remains consistent in about 10 minutes for each block.
If the mass time exceeds 10 minutes, this means that miners perform their task is slower than usual. To correct this, the network drops the difficulty in the following modification. Likewise, it raises the scale if the miners get out of the blocks at a rate of 10 minutes each.
Bitcoin’s latest modification occurred during the last weekend. Below is a plan that shows how the difficulty has changed in this event.
Looks like the value of the metric has seen a sharp surge over the past couple of days | Source: CoinWarz
As visible in the graph, the network increased difficult during this modification. Before the event, the scale reached 108.1 Terhashas, but now jumped to 114.1 Terhash, which is the highest new level ever (ATH).
This great positive change of 5.6 % means that miners have been much faster in the past two weeks compared to the period when two weeks before that.
The fastest pace for mines is the result of the aggressive expansion they participated in recently. Below is a scheme from Blockchain.com For retail, this growth is displayed in mining farms.
The trend in the 7-day average BTC Hashrate over the last twelve months | Source: Blockchain.com
“Hashraate” here is an indicator that tracks the total computing amount that mines are currently associated with Bitcoin. Its value is indicated in terms of “division per second”.
From the graph, it is clear that the retail was stuck in monotheism during the second half of last month, but the bullish momentum was pushed into the scale this month and in an amazing way in that.
In the wake of the expansion of mines unnecessarily, the ATH index selected about 845,200 Terhash per second last Saturday. Although miners have recently demonstrated enthusiasm, the difficulty explosion may cause some of them to decline in the coming days.
BTC price
At the time of writing this report, Bitcoin floats around $ 9,200, an increase of approximately 4 % in the past seven days.
The price of the coin seems to have been moving flat recently | Source: BTCUSDT on TradingView
Distinctive image from Dall -e, Blockchain.com, Coinwarz.com, Chart from TradingView.com
