Can a jump in hashrate push the Bitcoin halving from 2024 to 2023 as some are claiming? FrederickMunawa reports
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 .
Bitcoin miners process transactions and compete to add a new block to the Bitcoin blockchain roughly every 10 minutes. Several factors can disrupt that 10-minute rhythm, making it slightly easier or a little more difficult to mine blocks. The algorithm also controls how many bitcoins miners receive as a reward for processing transactions and securing the network.
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