The BTC network’s mining difficulty reached an all-time high of 28.587 trillion after the Bitcoin miner assisted in releasing the 19th millionth Bitcoin on Friday from circulation. The network difficulty of Bitcoin corresponds to the computational power needed in order to mine Bitcoin blocks. The current hash rate of Bitcoin blocks is at 201.84 exahash per (EH/S) second as per the data provided by Blockchain.com.
After maintaining a stronghold all year round, the network difficulty broke the record on February 13, outreaching an all-time high of 248.11 EH/s. With higher hash rates, resilience against double-spending attacks is confirmed. There has been a slight up-down in the BTC network during the previous year. For example, in March, the network came down to 27.55 trillion from 27.96 trillion, and on March 30, the number eventually came down to 27.45 trillion. But the network again started to grow back consistently in July 2021.
After the news of 2 million remaining Bitcoins came out, there has been an influx in the Bitcoin community from around the world. The BTC is going to grow stronger with time to support the thriving Bitcoin community. It is also have been estimated that after considering all the factors, the rest of the 2 million Bitcoin will be completely exhausted by the year 2140.
