Skip to main content

Bitcoin Mining Difficulty Rises 7.6% to Set New All-time High As Hashrate Jumps

 Bitcoin’s mining difficulty level rose 7.56% on Friday, hitting an all-time high along with the network’s hashrate, showing miners are applying more computing power. The difficulty changes roughly every two weeks, and is a measure of how much computing power is required for mining bitcoin blocks to be rewarded with Bitcoins.

Fast facts
  • The mining difficulty reading came in at 46.84 trillion at block height 782,208 in Friday’s adjustment, following a 1.16% rise in the previous adjustment on March 11, according to data from BTC.com.
  • Bitcoin’s hashrate, a measure of computational power used by miners, was at around 395.15 exahashes per second on Thursday, reaching an all-time high, BTC.com data showed.
  • Bitcoin’s price climbed 3% over the last 24 hours to trade at US$28,197 at around noon in Hong Kong, an increase of 9.31% over the past seven days, according to data from CoinMarketCap. The largest coin by market capitalization traded at US$20,792 on March 11.
  • The profitability rate of Bitcoin mining stood at US$0.0861 per terahash per second in the past 24 hours, down from US$0.19 from a year ago, data from BitInfoCharts showed.
See related article: Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes

Comments

Post a Comment

Popular posts from this blog

Difference between AES and DES

  AES (Advanced Encryption Standard) and DES (Data Encryption Standard) are both symmetric key encryption algorithms, which means they use the same key for both encryption and decryption. However, they differ in several key ways: Key size: AES supports key sizes of 128, 192, or 256 bits, while DES only supports a key size of 56 bits. This makes AES much more secure against brute-force attacks. Block size: AES uses a block size of 128 bits, while DES uses a block size of 64 bits. This means that AES can encrypt larger amounts of data at once, and is more efficient for modern computing architectures. Algorithm complexity: AES is a more complex algorithm than DES, which means that it is generally more difficult to attack. DES has been shown to be vulnerable to certain types of attacks, particularly those that exploit its relatively small key size. Security: AES is generally considered to be more secure than DES, and is currently recommended by security experts as the preferred encryp...
Post a Comment
Read more

crypto

  Crypto, short for "cryptocurrency," refers to a digital or virtual currency that uses cryptography to secure and verify transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not controlled by a central authority like a government or bank. Instead, they rely on a distributed ledger technology called blockchain, which allows for secure, transparent, and immutable record-keeping. The most well-known cryptocurrency is Bitcoin, which was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Since then, thousands of other cryptocurrencies, often referred to as "altcoins," have been created, each with their own unique features and use cases. Cryptocurrencies can be used for a variety of purposes, including as a medium of exchange, a store of value, and a speculative investment. Some people also view cryptocurrencies as a way to protect against inflation or as a means of financial freedom,...
Post a Comment
Read more

Ethereum hits an 8-month high as it nears $2,000

  Ethereum ( ETH ), the world’s second-largest   cryptocurrency , has reached an 8-month high as it continues its upward trend toward $2,000. The price of ETH rose to $1,909 on Wednesday, April 5, marking a 5% increase in just 24 hours, this surge comes amid a broader market rally that saw Bitcoin ( BTC ), the largest cryptocurrency, test resistance at $29,000. Ethereum’s on-chain activity has been steadily increasing over the past few months, with more and more users utilizing the network for various purposes. This uptick in activity has led to a surge in demand for Ethereum, with sharks (addresses holding 100-10,000) ETH accumulated $4.24 billion in the past 9 months, per the data from crypto analytics firm  Santiment  on April 5. According to Ali Martinez, a cryptocurrency trading expert, Ethereum is currently showing signs of breaking out, and the next key resistance level lies beyond $2,100. Furthermore, Martinez suggests that there...
Post a Comment
Read more