Bitcoin (BTC) saw its network hashrate jump to an absolute record of above 60 EH/s, according to Bitinfocharts. Data on the hashrate differ somewhat, but the latest spike in mining pushed it to a record.
The reason was the November 1 difficulty re-adjustment, where the difficulty of finding a block rose by just 0.2%. Miners will usually slow down, waiting for relatively low difficulty levels, then increase their hashrate. A lower difficulty makes it more probable to discover a block, hence the race to put in as much hashing power as possible.
The Bitcoin network hashrate has been fluctuating but has remained relatively close to the 50-60 EH/s range. In 2018, new shipments of rigs and more mining farms have happened. The levels of mining fluctuate by as much as 20%, indicating that some mining operations may be switched off temporarily.
More than 50% of blocks found went to the four largest mining pools - BTC.com, BTC.top, AntPool, and ViaBT...
This article appeared first on Cryptovest