How Does the Time-to-Block-Discovery Relate to the Network’s Difficulty Target?
The network's difficulty target is specifically designed to ensure that the average time to discover a new block remains constant (e.g. 10 minutes for Bitcoin), regardless of the total hash rate.
If the time-to-block discovery deviates significantly from the target, the network's difficulty adjustment mechanism will automatically correct the difficulty to bring the average time back to the target.
Glossar
Target
Precision ⎊ A target, within cryptocurrency derivatives and financial markets, denotes a predetermined price level or state serving as a focal point for trading strategies and risk management protocols.
Difficulty Adjustment Mechanism
Algorithm ⎊ Difficulty Adjustment Mechanisms represent a core tenet of blockchain protocol design, dynamically modulating mining or validation difficulty to maintain consistent block times despite fluctuating network hashrate.
Difficulty Target
Challenge ⎊ The Difficulty Target, within cryptocurrency derivatives and options trading, represents a dynamically adjusted threshold influencing mining rewards or contract payouts.