Every 2,016 blocks, the Bitcoin protocol alters the algorithm’s difficulty, adjusting it up or down depending on how long it took, on average, for the network to find the previous 2016 blocks. If the hashrate has fallen, difficulty declines, which speeds up block creation. That brings it back to the average 10 minutes per block that the system is designed to sustain over time and ends the squeeze on fees. The opposite occurs when the hashrate has risen.
Related posts
-
Bitcoin Price (BTC) Could Take Direction From Inflation Data This Week
Of the two, the CPI report is of more import and economists are forecasting that gauge... -
Is The Bitcoin Bottom In? Analyst Reveals Key Price Levels
In his latest technical analysis, veteran crypto analyst Christopher Inks offers a detailed look at the... -
Is The Bitcoin Run Over? Analyst Anticipates Further Upside
In the midst of recent market turbulence and widespread speculation about the future of Bitcoin, cryptocurrency...