As the Bitcoin block reward halving approaches, mining difficulty has also broken a record. In the last adjustment made before the halving, the difficulty reached 86.39 trillion.

Mining difficulty simply refers to the difficulty of adding new blocks to the Bitcoin blockchain (or Bitcoin production difficulty). As the difficulty increases, the processing power required to produce Bitcoin also increases. More processing power makes the Bitcoin network more secure. Increasing the difficulty also indicates that there is more demand for Bitcoin mining.

Difficulty automatically readjusts based on the state of a network in 2016 blocks. Increases in processing power result in a corresponding increase in difficulty. The next difficulty adjustment will be made 4 days after the halving, which is expected to occur on April 20.

The halving, which occurs every 4 years, will reduce Bitcoin block rewards from 6.25 BTC to 3,125 BTC. In this way, the daily Bitcoin production amount will decrease from 900 BTC to 450 BTC. Therefore, there will be a large decrease in the number of new BTC released.

The number one cryptocurrency by market value is traded at $70,300 as of 22.30 TSI.

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