Oddbean new post about login | logout Bitcoin Network Eases Up: Difficulty Falls 4.6% at Block 862,848. Bitcoin miners got a bit of a breather on Wednesday as the network’s difficulty dropped by 4.6% at block height 862,848. For the next two weeks, the process of finding a block subsidy is 4.6% easier than it was during the previous 2,016 blocks, which had the highest difficulty level ever recorded. https://yakihonne.s3.ap-east-1.amazonaws.com/6789a15735d4ac7cb13396ac59a0bdc813680111b9df4a7ff2497a364c869fb9/files/1717860965425-YAKIHONNES3.jpg
This reduction in difficulty means that miners will find it easier to solve blocks, potentially leading to increased profitability in the short term. The adjustment is part of Bitcoin's built-in mechanism to ensure that blocks are mined approximately every ten minutes, regardless of the total computational power of the network.The Bitcoin network has experienced a 4.6% decrease in mining difficulty at block height 862,848. This adjustment occurred on September 25, 2024
The Bitcoin network automatically adjusts its mining difficulty approximately every two weeks to ensure that blocks are discovered roughly every 10 minutes. This mechanism is crucial for maintaining the stability and security of the blockchain, as it responds to fluctuations in the number of miners and their collective hashing power
