The complexity of Bitcoin mining continues to grow. With the last recalculation, it grew 6.8% to 15,486,913,440,293 with a hash of 121.6 EPS.
Mining difficulty increased by almost 7% tonight. The next change in the difficulty level is expected on March 21. Despite the coronavirus epidemic, course correction and the approaching half reward, the miners continue to build up capacity. Today's increase in complexity is far from the records of previous years, but against the background of the general decline is encouraging.
Bitcoin's difficulty level changes approximately every two weeks - every 2,016 blocks. As more and more miners increase the network hash rate, the PoW complexity increases, making it difficult to get awards for blocks. If, in the event of a mass shutdown of the minimers, the difficulty is reduced to maintain balance.
The higher the difficulty of the minimers, the more difficult it is to attack the network. According to recent data from Messari analytical company, the cost of a successful 51% attack on Bitcoin's blocks is more than $21 million per day. For comparison, a similar attack on the Etherium network costs about $2.7 million.
The current increase in the complexity of the mining is primarily due to the approaching split of the award for the block, which is two months away. Both new models of miners and old equipment are now working, from which the "last juices" are being squeezed out, as after halving in May it (without the rise of BTC price) will become unprofitable. After halving the award, there is likely to be a sharp decline in complexity, which will be gradually offset by the introduction of new batches of the most energy-efficient ASIC-miners.
We would like to remind you that the last serious drop in the complexity of the mining occurred in November last year. Then the complexity of Bitcoin's mining fell by 7% in one recalculation, and this decline was the largest in 2019. Previously, a similar decline occurred in December 2018.
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