Crypto currency

Although early on in Bitcoin’s history individuals may have been able to compete for blocks with a regular at-home personal computer, this is no longer the case. The reason for this is that the difficulty of mining Bitcoin changes over time.

 

In order to ensure the smooth functioning of the blockchain and its ability to process and verify transactions, the Bitcoin network aims to have one block produced every 10 minutes or so. However, if there are one million mining rigs competing to solve the hash problem, they’ll likely reach a solution faster than a scenario in which 10 mining rigs are working on the same problem. 

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