Fun

Bitcoin’s Difficulty Slides 7.32%, Reduction Marks the Largest Drop in 2022

News Feed - 2022-12-06 03:12:28

Bitcoin"s Difficulty Slides 7.32%, Reduction Marks the Largest Drop in 2022


On Dec. 5, 2022, at block height 766,080, Bitcoin’s mining difficulty adjustment dropped 7.32% lower, making it the largest difficulty reduction in 2022. The current difficulty is approximately 34.24 trillion and it will remain at this point for the next two weeks or 2,016 blocks. Bitcoin Miners Catch a Break as the Network’s Difficulty Drops 7.32% Lower


Bitcoin’s difficulty retarget has dropped, which makes it a bit easier for bitcoin miners to find a block than it was during the two weeks prior. The difficulty change occurred around 8:50:29 p.m. (ET), at block height 766,080 and it was the largest reduction this year. The difficulty reduction was larger than the prior record that was recorded at block height 745,920. At that time on July 21, 2022, the network’s difficulty dropped by 5.01% and the difficulty was around 27.69 trillion.



Prior to the 7.32% reduction down to 34.24 trillion, the network’s difficulty rating was at a lifetime high of 36.95 trillion. Satoshi created the difficulty retarget to change periodically or every 2,016 blocks so the average time to mine a block remains constant at around 10 minutes. Statistics show prior to block height 766,080, the average block time was around 10:48 minutes, which meant a notable difficulty reduction was predicted to happen prior to the change.


At the time of writing, at 9:00 p.m. (ET), the total hashrate associated with the Bitcoin network is around 271.33 exahash per second (EH/s). Foundry USA is the top bitcoin mining pool at the time of writing with 25.48% of the network or 64.47 EH/s. Foundry discovered 107 blocks out of 420 discovered in the last three days. Foundry is followed by the mining pools Antpool, F2pool, Binance Pool, and Viabtc respectively. Tags in this story 2016 Blocks, 7.32% lower, 7.32% reduction, All time high, Antpool, ATH, Binance Pool, Bitcoin mining, BTC Mining, Changes, difficulty, difficulty change, Difficulty Changes, difficulty epochs, Exahash, F2Pool, Foundry USA, Hashpower, Hashrate, Hashrates, Increases, mining, Mining BTC, Mining Pools, Terahash, ViaBTC


What do you think about the difficulty dropping 7.32% lower? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie 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. Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of Hardware MINING | 2 days ago Applied Direct Response — ERCOT Study Shows Bitcoin Mining Is Beneficial to the Texas Grid MINING | 3 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleIndia’s Central Bank Digital Currency Should Be Able to Do Anything Cryptocurrency Can Do With No Risk, Official Claims Next articleMorgan Creek CEO Says FTX Co-Founder SBF Was a ‘Pawn’ Used to ‘Punish’ the Crypto Industry Disclaimer: 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 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

News Feed

Telegram Looks to Cut Deal With TON Blockchain Investors After SEC Order
Telegram has notified investors that the TON blockchain project will be launched later than planned, pushing the deadline from Oct. 30 to April 30, 2020. In an email to investors re
Picpay Rolls Out Crypto Trading Options to More Than 30 Million Users in Brazil
Picpay Rolls Out Crypto Trading Options to More Than 30 Million Users in Brazil Picpay, a payments and wallet app, is now providing cryptocurrency services to more than 30 million
ECB Calls for Urgent Regulation of Stablecoins and Defi, Won’t Rule Out Bitcoin Mining Ban
ECB Calls for Urgent Regulation of Stablecoins and Defi, Won’t Rule Out Bitcoin Mining Ban A new report by the European Central Bank (ECB), presented as a “deep dive into
Hong Kong Bitcoin, Ether ETFs wipe 2 weeks of inflow in a single day
Jesse Coghlan8 hours agoHong Kong Bitcoin, Ether ETFs wipe 2 weeks of inflow in a single dayNet outflows for Hong Kong’s crypto ETFs reached a record $39 million on Monday with bleeding felt across all six funds.3979 T
Cashfusion Use Increased by 328%, $200M in BCH Fused and Close to 20,000 Fusions
Cashfusion Use Increased by 328%, $200M in BCH Fused and Close to 20,000 Fusions Cashfusion, the privacy-enhancing solution for the Bitcoin Cash network is neari
Twitter Changes Bird Logo to Picture of Doge, Dogecoin Price Surges 23% After the Change
Twitter Changes Bird Logo to Picture of Doge, Dogecoin Price Surges 23% After the Change On Monday, Twitter users noticed that the traditional blue bird logo had been replaced by a
Nigerian crypto star out on bail following police detention
Amaka Nwaokocha14 hours agoNigerian crypto star out on bail following police detentionIndustry watchers are closely monitoring the case for signs of how Nigerian authorities will handle similar cases, which could impact
SEC Karate-Chops Steven Seagal Over Promoting Cryptocurrency Touted as the Next Gen Bitcoin
SEC Karate-Chops Steven Seagal Over Promoting Cryptocurrency Touted as the Next Gen Bitcoin The U.S. Securities and Exchange Commission (SEC) has charged actor Steven Seagal for
Uzbekistan Warns Citizens to Avoid Unlicensed Cryptocurrency Exchanges
Uzbekistan Warns Citizens to Avoid Unlicensed Cryptocurrency Exchanges A government agency in Uzbekistan has published a list of unauthorized crypto exchanges that residents of the
US Treasury Warns of Increasing Ransomware Campaigns Against Coronavirus Vaccine Research Institutions
US Treasury Warns of Increasing Ransomware Campaigns Against Coronavirus Vaccine Research Institutions The U.S. Treasury Department’s Financial Crimes Enfo
Report: Chainalysis Detects ‘Significant’ Wash Trading Using NFTs
Report: Chainalysis Detects "Significant" Wash Trading Using NFTs Chainalysis, one of the leading blockchain and cryptocurrency auditing firms, has issued a report indicating signs
Democrats have ‘huge opportunity’ to win back the crypto vote
Martin Young5 hours agoDemocrats have ‘huge opportunity’ to win back the crypto voteThe new Democratic party presidential candidate should consider crypto a top priority, according to crypto lawyer Jake Chervinsky in