Is Ethereum once again the victim of its own success?Is Ethereum once again the victim of its own success?
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Quick Take

On Nov. 12, the Bitcoin difficulty underwent another upward adjustment of 3.5%, marking the fifth consecutive rise in a row similar to the trend observed from February to April. Now at an unprecedented 65T, the Bitcoin difficulty mirrors the continuous surge in the hash rate.

Difficulty Adjustment: (Source: Glassnode)
Difficulty Adjustment: (Source: Glassnode)

Over a 7-day moving average, the hash rate teeters around its all-time high at about 450 eh/s. However, when inspected daily, the hash rate has shown an even more robust performance, exceeding 500 eh/s. This consistent climb in the hash rate and difficulty underlines an increasing fortification of the Bitcoin network.

Hash Rate Adjustment: (Source: Glassnode)
Hash Rate Adjustment: (Source: Glassnode)

As the network prepares for the halving event, these developments suggest a record level of security. The increasing difficulty and hash rate signifies a robust computing power dedicated to processing Bitcoin transactions, enhancing the network’s resistance to potential threats.

The post Bitcoin mining difficulty hits record 65T ahead of halving, securing network further appeared first on CryptoSlate.
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