Blockchain circle

One stop hot information platform

About us:

Blockchain circle provides the latest information about blockchain, digital currency, digital wallet, exchange, metauniverse, bitcoin, Ethereum, contract, financial management and so on, and always pays attention to the latest market...

Bitcoin algorithm adjustment! Miners around the world are finding it harder to dig and their profits have plummeted

Time : 26/03/2021 Author : en73xk Click : + -
        For bitcoin, its output is fixed. This means that the more people mining, the greater the difficulty of mining, and the lower the income, and vice versa. According to foreign media reports, as the global computing power of bitcoin is gradually returning to normal, the mining difficulty of bitcoin has increased by about 7.3% in a new round of computing power adjustment. According to the bitcoin agreement, the current mining difficulty should be adjusted every 2016 blocks, so that the block out time of each block is maintained at about 10 minutes. According to this calculation, the cycle of bitcoin mining difficulty adjustment is about 2016 * 10 minutes (14 days), that is, once every two weeks. In the bitcoin algorithm adjustment on Friday morning, the bitcoin code automatically increased the difficulty of cracking a block by about 7.3%, which also means that it is more difficult for miners around the world to mine, and the profit is also reduced.
        Of course, the increase in the difficulty of bitcoin mining is inevitable. In May this year, China began to crack down on bitcoin mining, and then a large number of mining machines went offline. Months ago, our bitcoin computing power accounted for about 54% of the global computing power. With the reduction of 54% computing power in China, the mining difficulty was reduced by 28% in a bitcoin algorithm adjustment in July this year. Previously, it took 14-19 minutes to complete the mining of a block, but now it takes only about 10 minutes. From the bitcoin algorithm adjustment, some mining machines previously in China have been successfully withdrawn and put online again. Jason Deane, an analyst at quantum economics, an encryption consulting firm, said that at present, the computing power of bitcoin's whole network is% lower than that of Chinese miners, and a large number of mining machines withdrawn from China have not yet been online.
        The copyright of this article belongs to the original author; It aims to convey information and does not represent the views and positions of firewood cutting network. This blue is too coquettish! Blue, white charm and blue note lines are free to buy for yuan! Apple App Store promotes hematemesis in China. Chopping firewood network (founded in 2013) always adheres to the purpose of unique point of view, comprehensive and in-depth, informative and interesting, and seeks new commercial value between science and technology and humanities.
Previous:Introduction to steam, an online game platform based on blockchain Technology
Next:The blockchain game company invested by Tencent has become a unicorn; Alibaba cloud's wholly-owned acquisition of sports venue advertisers, vcpe highlights

Related articles:

© 2005-2032 | Blockchain Circle & & All Rights Reserved    Sitemap1 Sitemap2 If there is infringement, please contact us at: