Bitcoin’s hashrate is reaching all-time highs, and it’s causing confusion about “the halvening” on Twitter.Bitcoin’s hashrate – the computational effort required to secure the network – is teetering on historical highs, raising concerns from a few people on Twitter about an accelerated Bitcoin halving schedule (the reward for mining a block is halved approximately every four years).
Should they be worried? Not really. Bitcoin’s algorithm prevents acceleration of the halving schedule, a developer highlighted.Bitcoin miners process transactions and compete to add a new block to the Bitcoin blockchain roughly every 10 minutes. Several factors (for example, number of miners or technological improvements) can disrupt that 10-minute rhythm, making it slightly easier or a little more difficult to mine blocks.
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