Bitcoin Mining Difficulty Increased for the First Time Since the Crypto Launch
On this day, Bitcoin reached an important technical point - the mining difficulty indicator exceeded the base value of 1 for the first time.
Difficulty determines how labor-intensive the process of selecting new blocks and receiving rewards in bitcoins is. The higher this metric is, the more computing power is required for mining.
Exceeding the difficulty threshold 1 required the collaboration of several hundred ordinary computers for almost a year since the Bitcoin creation. Back then people didn’t even realize that in a few years the first miners would appear not on a CPU, but on a GPU, and Bitcoin would cease to be an ordinary toy.
I consider it symbolic that almost during the same period, Bitcoin again updated the difficulty of mining new blocks, reaching a new historical maximum.