Still the king: Bitcoin mining difficulty drops over 4%, but the network remains impenetrable.
While the Bitcoin community rejoiced the added resilience to the network owing to the rising difficulty in mining a Bitcoin block, the network difficulty recorded a drop of 4.33% — falling from 31.251 trillion to 29.897 trillion on May 26.
As Cointelegraph reported on several occasions, Bitcoin’s network difficulty consistently achieved all-time highs over the past ten months as it recovered from a massive drop of 45.4% — from 25.046 trillion on May 29, 2021, to 13.673 trillion on July 22, 2021. Ever since then, Bitcoin’s network difficulty witnessed a total growth of 128.56% as it surged to its all-time high. However, despite the momentary decline of over 4%, the BTC ecosystem is still guarded by the most secureHigher network difficulty demands higher computational power to validate and confirm transactions over the BTC blockchain. As a result, this prevents bad actors from taking over the network by contributing to over 50% of the hash rate and carrying out double-spending attacks.
Cointelegraph recently interviewed Dania Gonzalez, Deputy of the Republic of El Salvador, to better understand the social impact of adopting BTC as legal tender. According to Gonzalez, El Salvador made profits via strategic BTC investments and repurposed the fresh funds to build infrastructures like a veterinary hospital and a public school.The Bitcoin (
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biggest Movers: AVAX and ATOM Over 10% Lower on Thursday – Market Updates Bitcoin NewsAVAX was one of the biggest movers in crypto markets on Thursday, as prices fell by over 10%, hitting a two-week low in the process.
Read more »
UK Crypto Hedge Fund Weathers Market Storm With Arbitrage StrategyNickel Digital Asset Management’s arbitrage fund is only down about 0.6% this year, compared to bitcoin’s drop of roughly 40% and the Nasdaq’s dip of 24%.
Read more »
3 reasons why Bitcoin is regaining its crypto market dominanceIs Bitcoin down almost 60% from its ATH? Yes. Is it still asserting its dominance in the market? Also yes. Here’s why.
Read more »
Big cities saw population declines during pandemicOf the country's nine cities with more than 1 million people, only Phoenix and San Antonio saw population gains.
Read more »
Magnitude 4.3 earthquake felt near Ridgecrest, Calif.A magnitude 4.3 earthquake was reported at 2:23 a.m. Thursday 12 miles from Ridgecrest, Calif., according to the U.S. Geological Survey.
Read more »
Ethereum’s Beacon Network Deals With a 7-Block Chain Reorganization – Bitcoin NewsOn May 25, seven blocks were reorganized on Ethereum’s Beacon chain at block height 3,887,075 all the way to block 3,887,081.
Read more »