{"id":16389,"date":"2023-01-12T17:30:36","date_gmt":"2023-01-12T17:30:36","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-network-braces-for-notable-difficulty-increase-in-3-days-bitcoin-news\/"},"modified":"2023-01-12T17:30:36","modified_gmt":"2023-01-12T17:30:36","slug":"bitcoin-network-braces-for-notable-difficulty-increase-in-3-days-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-network-braces-for-notable-difficulty-increase-in-3-days-bitcoin-news\/","title":{"rendered":"Bitcoin Network Braces for Notable Difficulty Increase in 3 Days \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

Bitcoin\u2019s mining difficulty, the measure of how difficult it is to find a new block and add it to the blockchain, is set to increase significantly on Jan. 15, 2023, according to current estimates. At the time of writing, Bitcoin\u2019s mining difficulty appears to be on track for a 10% increase, rising from 34.09 trillion to an all-time high of 37.57 trillion.<\/strong><\/p>\n

Upcoming Difficulty Retarget to Boost Hashrate Requirements<\/h2>\n

The leading cryptocurrency network, Bitcoin (BTC<\/a>), is set to experience a record-setting difficulty increase in three days, on or around Jan. 15, 2023. At the time of writing, the network\u2019s hash rate is at 268.79 exahash per second (EH\/s) and the blockchain\u2019s computational power reached an all-time high<\/a> on Jan. 6, 2023. On that day, at block height 770,709, the network\u2019s hash power reached 361.20 EH\/s.<\/p>\n

\"Bitcoin
Estimated difficulty change for Jan. 15, 2023, recorded on Jan. 12, 2023 at 9:00 a.m. Eastern Time.<\/figcaption><\/figure>\n

Bitcoin block times, also known as block intervals, have been between 8 minutes, 52 seconds<\/a>, and 9 minutes, 6 seconds<\/a> in length. The block interval is the average amount of time it takes for a new block to be added to the blockchain, and the network\u2019s difficulty is designed to keep the block time around 10 minutes per block.<\/p>\n

The actual time between blocks can vary from this average, and since the last difficulty change<\/a> on Jan. 2, 2023, at block height 770,112, block intervals have been faster. For this reason, the difficulty retarget on Jan. 15 will be a notable increase, and a rise that has not been recorded since October 2022.<\/p>\n

Foundry USA and Antpool Command Nearly Half of Bitcoin\u2019s Global Hashrate<\/h2>\n

At the time of writing, and up until the next difficulty change, BTC<\/a>\u2019s network difficulty is approximately 34.09 trillion. This means that, on average, it takes 34 trillion hashes (or attempts) to find a valid BTC<\/a> block and add it to the blockchain. Currently, analytics sites detail that Bitcoin\u2019s next difficulty change is expected to rise by 10.1%<\/a> to 10.21%<\/a> in three days.<\/p>\n

At the highest estimate, the difficulty would reach an all-time high of 37.57 trillion, and bitcoin miners would need to exert 37.57 trillion hashes to find a block on the Bitcoin blockchain. Presently, Foundry USA is the top mining pool<\/a> during the last three days, with 29.57% of the global hashrate. Foundry is followed by Antpool (19.36%), F2pool (16.38%), Binance Pool (8.72%), Viabtc (8.30%), and Braiins Pool (3.40%), respectively. Between Foundry and Antpool, the two pools currently command 48.93% of the network\u2019s total hashrate.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
All time high<\/a>, Analytics<\/a>, Antpool<\/a>, Binance Pool<\/a>, Bitcoin<\/a>, block 770709<\/a>, Block Height<\/a>, block interval<\/a>, Block time<\/a>, Blockchain<\/a>, Braiins Pool<\/a>, computational power<\/a>, difficulty<\/a>, difficulty change<\/a>, EH\/s<\/a>, F2Pool<\/a>, Foundry USA<\/a>, Global Hashrate<\/a>, Hashes<\/a>, hashing power<\/a>, Hashpower<\/a>, Hashrate<\/a>, increase<\/a>, Jan. 15 2023<\/a>, mining<\/a>, mining effort<\/a>, mining pool<\/a>, Mining Pools<\/a>, network<\/a>, percent<\/a>, Percentage<\/a>, record<\/a>, retarget<\/a>, valid block<\/a>, ViaBTC<\/a><\/div>\n<\/div>\n

What do you think about Bitcoin\u2019s upcoming mining difficulty change? Share your thoughts and predictions in the comments below.<\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n