Bitcoin Halving Decreases Block Generation Speed 

Hey ninja’s, how’s the trading going? At press time, the largest cryptocurrency bitcoin is reporting daily losses of 1% and is trading at $9,667. Top altcoins Ethereum and XRP are both reporting daily gains at press time. Ethereum is up 2.26% while XRP is up 1% and is trading at $212 and $0.20 respectively. 

According to data shared via Twitter by pseudonymous Bitcoin analyst digitalik.net, Only 95 blocks were generated on the Bitcoin blockchain on Sunday. The post states that in the last 10 years there have only been 8 days where less than 100 blocks were created, referring to the third quarter of 2017.

According to the data posted on Twitter, after Bitcoin halving the number of blocks generated fluctuated to around 100-120 blocks per day, but suddenly dropped to 95 blocks on Sunday. 

Digitalik.net explained that the generation speed of Bitcoin is dependent on its hash rate, it is automatically adjusted after every 2016 blocks, and this is designed to ensure that mining one block will take approximately 10 minutes.

However, experts from digitalik.net are skeptical about the possibility of the block generation speed adjusting back to 10 minutes. The expert explained that the adjustment is done based on the entire period average since its last adjustment, and this average is not “real current” because it includes one week before the halving. 

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