Bitcoin Block Generation Speed Falls to 2017 Lows

Only sell bitcoin to paypal usd 95 blocks were generated on the Bitcoin blockchain on Sunday due to the recent halving, an analyst argues. There were only 95 blocks generated on the Bitcoin (BTC) blockchain on May 18, according to data presented by pseudonymous Bitcoin analyst digitalik.net.

In an interview with Cointelegraph, digitalik.net attributed the low block time to the recent Bitcoin halving and the decreased BTC hash rate in particular. According to the chart provided by the analyst, BTC daily block generation metric fluctuated around 100–120 blocks per day after the halving, but then dropped to just 95 blocks on May 18.

The block generation speed depends on the hash rate and Bitcoin difficulty, digitalik.net explained. The latter, which gets automatically adjusted every 2016 blocks, is designed so that mining one block will take approximately 10 minutes to get mined. In last 10 years we had only 8 days with less than 100 blocks,” the analyst tweeted, referring mostly to the 2017 Q3 period.

However, the expert is skeptical about block generation speed coming back to normal after the next recalculation, given that the BTC price stays below $10,000:

According to the chart provided by the analyst, BTC daily block generation metric fluctuated around 100–120 blocks per day after the halving, but then dropped to just 95 blocks on May 18.

The block generation speed depends on the hash rate and Bitcoin difficulty, digitalik.net explained. The latter, which gets automatically adjusted every 2016 blocks, is designed so that mining one block will take approximately 10 minutes to get bitcoin to paypal exchange instanly mined.

However, the expert is skeptical about block generation speed coming back to normal after the next recalculation, given that the BTC price stays below $10,000:

“I don't think [the] next diff adjustment will bring it back to 10 min/block. Because adjustment is done based on [the] entire period average (since last adjustment). And this average is not real current picture because it includes also one week before halving."