Bitcoin block generation speed dropped to a minimum

Bitcoin block generation speed dropped to a minimum

On May 17, miners generated a total of 95 new blocks in the Bitcoin blockchain, which is one of the lowest indicators in the last 10 years. Typically, this figure ranges from 120-150 blocks.

According to the analyst under the pseudonym digitalikNet, since 2010 there have been only 8 days when the number of new blocks closed was less than 100 and most of them fell in the 3rd quarter of 2017. However, as a result of a recent halving, the hash of the network began to fall, which, while maintaining the previous level of complexity, led to a decrease in the generation rate.

A 50% reduction in remuneration in combination with a slight increase in the exchange rate forces some miners to turn off their equipment or to obtain other cryptocurrencies so as not to incur losses. Therefore, in the event of a price increase or a decrease in the difficulty indicator, they may return again.

Another consequence of the halving was an increase in transaction fees by 800%, which increased the share of this item of miners’ income to 17%.

, sales4k, table: Twitter / digitalik.net

Bitcoin block generation speed dropped to a minimum

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