With Over 90% of BTC's Supply Issued, Bitcoin's Mining Difficulty Reaches a Lifetime High

Bitcoin has hit yet another milestone this week, as the network’s mining difficulty is the highest it has ever been, and that means it is currently the hardest point in history to find a bitcoin (BTC) block. Satoshi Nakamoto created the mining difficulty to ensure that block times were around ten minutes apart and the difficulty adjustment algorithm (DAA) readjusts every two weeks.

The term “mining difficulty” refers to how difficult it is for mining participants to find a block subsidy, otherwise known as a block reward. Bitcoin’s mining difficulty is very important and keeps the network as consistent as possible. When new mining participants join the network and the hashrate increases, the DAA readjusts higher and it becomes more difficult for miners to find a block reward.

If the opposite happens, and hashrate subsides, then the DAA will decrease lower making it easier for the aggregate of mining participants. The 4.31% increase on Thursday, was the first increase in over four weeks or 2 DAA changes. The DAA readjusts every 2016 blocks and at the time of writing, 1,682 blocks remain until the retarget which is expected on April 13.

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