Imagine bitcoin mining difficulty right after a difficulty change is at 1000, and then it takes...
Imagine bitcoin mining difficulty right after a difficulty change is at 1000, and then it takes exactly 16 days to find the next 2016 blocks. What will be the next bitcoin difficulty?
Homework Answers
Answer: Next bitcoin difficulty: 875
Explanation:
Each block takes 10 mins to mine which 20160 minutes to mine 2016 blocks.
As per the question it takes 16 days which is 23040 minutes (16*24*60).
Ratio of expected to actual is 20160 : 23040 = 0.875.
given difficulty (D) is 1000. Therefore the next difficulty = D* ratio
next difficulty = 1000 * 0.875 = 875.
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