How Would an Increase in Mining Power Affect the Difficulty Target?
An increase in mining power, or hash rate, would cause the network to find the 2,016 blocks faster than the target 14 days. At the next difficulty adjustment, the protocol would automatically decrease the difficulty target, making it harder to find a valid hash.
This ensures the 10-minute block time is maintained, despite the increase in global hash power.
Glossar
Hash Rate
Power ⎊ Hash rate quantifies the total computational power dedicated to solving the cryptographic puzzle in a Proof-of-Work network.
Mining Power
Genesis ⎊ The concept of Mining Power, within the context of cryptocurrency, options trading, and financial derivatives, fundamentally represents the computational capacity or influence leveraged to secure network consensus or generate value.
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.