Bitcoin block generation speed dropped to a minimum

On May 17, miners generated a total of 95 newblocks in the Bitcoin blockchain, which is one of the lowest rates in the last 10 years. Typically, this figure ranges from 120-150 blocks.

According to an analyst under the pseudonym digitalikNet,Since 2010, there have been only 8 days when the number of new block closures was less than 100, and most of them occurred in the 3rd quarter of 2017. However, as a result of the recent halving, the network hashrate began to fall, which, while maintaining the same level of difficulty, led to a decrease in the generation speed.

Reduction50% rewards in combination witha slight increase in the rate forces some of the miners to turn off their equipment or to mine other cryptocurrencies so as not to incur losses. Therefore, in the event of a price increase or a decrease in the difficulty indicator, they may return again.

Another consequence of the halving was an increase in transaction fees by 800%, which increased the share of this item of income of miners to 17%.

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