LATEST: Post-Halving Bitcoin Mining Difficulty Reaches 88.1 Trillion

Bitcoin mining difficulty soared to a new peak on Wednesday, rising by 2% to achieve an all-time high of 88.1 trillion at block height 840,672, according to Bitbo data. This significant increase, the first adjustment since the recent halving event, marks a historic moment as it is the first time that the mining difficulty has risen in the first adjustment following a halving. In contrast, past adjustments post-halving have typically seen decreases, such as -2% in November 2020, 0% in July 2016, and -6% in May 2020, with the second adjustments experiencing even sharper declines of -12%, -5%, and -9% respectively.

This adjustment indicates a robust resilience in the Bitcoin network, especially considering the historical trend of declining miner profitability due to reduced block subsidy rewards. Bitcoin mining difficulty is a measure of how challenging it is to find a new block compared to the simplest possible scenario and is recalibrated every 2016 blocks, or approximately every two weeks. This ensures that a new block is mined every 10 minutes, maintaining the regularity of mining operations irrespective of the number of active miners.

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Stop chasing degens – Blockworks

Blockchains as we know them have been around now for over 15 years.

Yet, the applications for interacting with them are still stubbornly hard for the average person to use, despite the many brilliant minds in the industry. This has been a problem for so long that the way we talk about it has become a cliché.

Product teams don’t make the time to think more about mainstream users.

They forget lean-startup principles and their prescribed conversations with actual customers.

They don’t invest the time to convey highly technical details in terms that the general, non-technical populace can understand.

They allow features possibly required for mass adoption — like multi-party…

Read more on Blockworks

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