According to BlockBeats, on July 6th, data from BTC.com indicated that the difficulty of Bitcoin mining was adjusted at block height 850,752. The mining difficulty was reduced by 5% to 79.5 T. The average network hashrate for the past seven days is currently 578.28 EH/s.
This adjustment in mining difficulty is a significant event in the Bitcoin network. It is designed to maintain the block time, or the time it takes to add a new block to the blockchain, at approximately ten minutes. When more miners join the network, the difficulty increases. Conversely, if miners leave the network, the difficulty decreases.
The recent 5% decrease suggests a reduction in the overall mining activity on the Bitcoin network. However, the current average network hashrate of 578.28 EH/s indicates that the network remains robust and secure. The hashrate is a measure of the processing power of the Bitcoin network. The higher the hashrate, the more secure the network is against attacks.