A Rare Event Occurred in Bitcoin (BTC) Mining! What is the Effect of Extraordinary Latency?

on a monday Bitcoin (BTC) The mining block took over an hour and thousands of transactions remained in an unconfirmed state.

Time Difference Between Two Blocks Extracted by Bitcoin Miners Rises Up to 85 Minutes for One Time

According to on-chain data from various blockchain explorers, the time between the two most recent blocks mined by Foundry USA and Luxor was 85 minutes.

According to Mempool, more than 13,000 transactions were pending before the final block was mined.

Last week, Bitcoin made a difficulty adjustment to ensure that block confirmations continue to occur every 10 minutes.

With the mining difficulty rising to 35.6 trillion, BTC is getting more expensive to mine, resulting in rising energy prices and cryptocurrency putting pressure on the mining industry, which is dealing with a bear market.

At the time of this writing, BTC price is trading at $ 19,507 with a 2% increase in the last 24 hours.

Tadge Dryja, founder of the Lightning Network, tweeted that an 85-minute interval between blocks can be expected to occur every 34 days, regardless of difficulty changes.

Tadge Dryja stated in his statement that this is normal and occurs at regular intervals:

“The 85-minute difference between blocks occurs every 34 days (assuming the difficulty level hasn’t changed).

Rounded to the nearest second, only 0.06% of blocks last “10 minutes”: So between 600 and 601 seconds.”

As it is known, the purpose of BTC mining is to extract a block every 10 minutes. To achieve this goal, adjustments are made to the mining system on a regular basis.

*Not investment advice.