Difficulty passes 26 trillion for the first time
The difficulty, which expresses how much miners need to work to solve the equations to process transactions on the blockchain, is arguably the most important of fundamental Bitcoin network components. The metric automatically adjusts to increase or decrease mining effort according to miner participation — the more competition among miners, the higher the difficulty.
This has the effect of keeping mining stable regardless of factors such as sentiment, price or unintended incidents. After dipping in mid-2021, difficulty took the rest of the year to bounce back, with the latest automated readjustment adding 9.32% to the previous level. With that, it entered unexplored territory above 26 trillion.that the increase is the highest in over half a year, with BTC.com data confirming that late August saw the last adjustment of more than 10%.The difficulty thus logically followed the hash rate higher, this having continually set new record highs last year.
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