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Mining difficulty and high hash rate in Ethereum

Mining difficulty and high hash rate in Ethereum

The Ethereum Mining Difficulty(ETH) reached a new all-time high (ATH) reaching 12.69T, which represents an increase in the number of miners connected to the grid.

So, according to blockchain analytics company Glassnode, the Ethereum network broke, with that record, the trademark on January 3, 2022, when it also broke another ATH.

Therefore, mining difficulty measures how complex is the mathematical problem that miners must solve to find the identification of a block and mine it, activity with which they obtain rewards, in this case, in ETH.

Thus, the difficulty of mining Ethereum responds to the protection of the network itself, which, in the face of the arrival of more miners, makes the activity more difficult, such as an emission policy that keeps the blockchain safe.

However, although the result is positive, it shows that ETH mining still has a long way to go before it ends.

Thus, it should be remembered that before reaching Ethereum 2.0, The Merge (merge) must occur, which involves a transition from the PoW algorithm to the Proof of Stake (PoS) algorithm and with that the difficulty bomb will explode, literally limiting mining ETH and putting the network in a kind of 'ice age'.

Ethereum

Thus, as the difficulty of mining ETH increases, so does the hash rate, or computing power, to extract cryptocurrencies in this network.

Therefore, both indicators are correlated and when the hash rate increases and remains, the difficulty (which is periodic) eventually increases.

So, according to the data shown by YCharts, now the hash rate is about 960 terahashes per second (TH/s).

So the hash rate is at 966.97 TH/s, a number never seen before for this indicator, which denotes the increase in the number of miners connected and extracting ETH.

However, and although the difficulty of ETH mining and the hash rate is increasing, its price does not work in the same way as Ethereum is having great difficulty getting its price back to US$4,000.

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