Bitcoin’s mining difficulty has increased by approximately 4.25% while that of Ethereum’s increased by approximately 20% in a single day.
Bitcoin mining difficulty is a way to prevent mining of too many BTCs too fast. So, as the number of miners increase, the mining difficulty increase as well. As per the data obtained from Bitcoinwisdom, the current difficulty of Bitcoin is at 6,061,518,831,027, the block generation time for one block is at 9.5 minutes.
The current hash rate for Bitcoin is at 43.795 million Gh/s [Gigahash per second]. The chart below shows the relationship between mining difficult and hash rate.
Furthermore, the block halving for Bitcoin is in a year, i.e., on May 24, 2020, at 15:32:46. On that exact time, Bitcoin’s block rewards for all the miners would decrease from 12.5 BTC to 6.25 BTC.
Block halving for Bitcoin happens once every 210,000 blocks are mined on the Bitcoin blockchain.
Ethereum, the second largest cryptocurrency…
Read Full Story : AMBCrypto