4 consecutive difficulty levels make Bitcoin Block Rewards 49% easier to find – Mining Bitcoin News
After the biggest drop in mining difficulty in Bitcoin’s history, there will be another drop this weekend, but less than 6% of the difficulty will be removed. Statistics show that Bitcoin’s hashrate has climbed higher since the difficulty decreased two weeks ago, climbing over 100 exahash per second (EH / s) this week. The decline in Bitcoin mining difficulty coming this weekend will be the only time in history that the difficulty level has dropped four times in a row.
The successive Difficulty Drops of 2021 come very close to the records of 2011
After China cracked down on Bitcoin miners in late June, a large amount of hash power had temporarily stalled. Statistics show that the hashrate was 66 EH / s on June 28th and has since risen to over the 100 EH / s zone.
There are currently 18 known mining pools dedicating hashrate to the BTC chain, and 4.71% of the global hashrate (24 hour stats) or 4.79 EH / s are owned by unknown miners.
Two weeks ago, the Bitcoin network had the greatest difficulty level ever and another level of difficulty is expected this weekend. Using today’s average hashrate, the statistics show that the decline will be less than 6%, reducing the current difficulty level from 14.36 trillion to 13.5 trillion.
This means that after the dip, the mining difficulty decreased four times in a row. The last time the BTC mining difficulty decreased more than four times in a row was in 2011. From August to November 2011, the mining difficulty decreased eight times in a row.
In 2018, three levels of difficulty fell in a row, five mining pools currently control 59% of Bitcoin’s hashrate
The only other time BTC’s mining difficulty got close to four times the record in a row was in 2018, with three consecutive difficulty declines between November and December.
The last difficulty levels were reduced by 49.21%, which is slightly less than the 51.54% in 2011. At that time, the level of difficulty reached a high of 1.89 million in August and in November it was 1.09 million at block height 155,232 .
At the time of writing, the top Friday afternoon mining pools include Viabtc, Antpool, Poolin, F2pool, and Btc.com. These pools are followed by Binance, Foundry, and Slushpool, but the five largest holdings have 59.4% of the global hashrate.
Binance, Foundry and Slushpool captured 21.9% of BTC’s hash power on Friday afternoon. This leaves ten known pools and 4.79 EH / s of unknown hash power, which make up 18.7% of the global hashrate.
What do you think of the four difficulty levels in 2021 compared to the eight drops in 2011? Let us know what you think on this matter in the comments below.
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source https://bidsfor.me/4-consecutive-difficulty-levels-make-bitcoin-block-rewards-49-easier-to-find-mining-bitcoin-news/
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