BTC / USD
The biggest crypto, Bitcoin (BTC), has recorded its 700,000th block earlier on September 11, 2021. At this point, over 89.58% of its total supply has already been issued with the total number of coins that are in circulation currently standing at 18.812 million.
It took Bitcoin 693 days to reach another notable milestone after it logged 600,000 blocks on October 19, 2019. At the time, the price of bitcoin closed at $7,960 on the Bitstamp exchange. At the time of writing, the crypto is trading at above $44,800, up 463% from the day that the 600,000th block was recorded.
New blocks are generated after every 10 minutes on average, but it is impossible to project precisely exactly how long it might take to produce a single block. The mining difficulty is significantly high, block production might become considerably slower. As reported previously, it took nearly 122 minutes to mine a single block, the longest block production time in nearly a decade.
After the Chinese miners began to switch off their equipment as a result of a country-wide crackdown on the sector earlier in the year, the average time that is needed to produce a single block increased by almost 13 minutes before BTC’s largest negative difficulty adjustment in its whole history.
From May 11, 2021, miners get a 6.25 BTC reward for every valid block. The quadrennial halving event, during which BTC’s issuance rate is cut by 50%, happens after every 210,000th block.
The biggest crypto, Bitcoin (BTC), has recorded its 700,000th block earlier on September 11, 2021. At this point, over 89.58% of its total supply has already been issued with the total number of coins that are in circulation currently standing at 18.812 million.
It took Bitcoin 693 days to reach another notable milestone after it logged 600,000 blocks on October 19, 2019. At the time, the price of bitcoin closed at $7,960 on the Bitstamp exchange. At the time of writing, the crypto is trading at above $44,800, up 463% from the day that the 600,000th block was recorded.
New blocks are generated after every 10 minutes on average, but it is impossible to project precisely exactly how long it might take to produce a single block. The mining difficulty is significantly high, block production might become considerably slower. As reported previously, it took nearly 122 minutes to mine a single block, the longest block production time in nearly a decade.
After the Chinese miners began to switch off their equipment as a result of a country-wide crackdown on the sector earlier in the year, the average time that is needed to produce a single block increased by almost 13 minutes before BTC’s largest negative difficulty adjustment in its whole history.
From May 11, 2021, miners get a 6.25 BTC reward for every valid block. The quadrennial halving event, during which BTC’s issuance rate is cut by 50%, happens after every 210,000th block.