Bitcoin block difficulty has jumped yet again. This time, we’re looking at a 26% increase to 1,789,546,951, according to this chart at Bitcoin Wisdom.
What is bitcoin mining difficulty? In simple terms, it’s how difficult it is for a miner to discover a block. By design, the bitcoin protocol calls for an increase in bitcoin difficulty every 2016 blocks. As more and more powerful bitcoin miners come online, it is necessary to slow the rate at which new bitcoin is mined to prevent all 21 million units from being discovered prematurely.
If you take a look at the chart above, you’ll see the red line represents block difficulty, and grows with hashing power on the bitcoin network.
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