It’s Bitcoin’s birthday: The very first Bitcoin block was mined 16 years ago today.
And the network is stronger than ever, with mining difficulty reaching a new all-time high mark as the biggest cryptocurrency rides into the new year.
Data from Bitinfocharts shows that Bitcoin difficulty hit a new all-time high of 109.78 trillion hashes as of Monday—the highest ever seen for the original blockchain network. That means it takes that huge amount of hashes to mine a new block.
Hashing is the computing process of turning data into a fixed-length string of letters and numbers. In the Bitcoin mining world, powerful machines do this as fast as they can in order for new blocks to be added to the blockchain—which is just a long list of transactions.
Simply put, with the difficulty level now harder than ever, the network is even more secure—just as was always intended for the biggest crypto network.
Bitcoin’s first block was mined on January 3, 2009. Known as the
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