What is Ethereum Classic difficulty?Ethereum Classic difficulty (or network difficulty) is a key value for every cryptocurrency. Ethereum Classic Network difficulty is the difficulty of a problem that miners must solve to find a block. The more miners are mining Ethereum Classic the more difficult it is to find the block to be rewarded. What Is Mining?
How is network difficulty measured?Network difficulty is a value. It shows how many times on average miners should calculate a hash function to find a cryptocurrency block.
- 1 K = 1 000
- 1 M = 1 000 K = 1 000 000
- 1 G = 1 000 M = 1 000 000 K = 1 000 000 000
- 1 T = 1 000 G = 1 000 000 M = 1 000 000 000 K = 1 000 000 000 000
Why does network difficulty change?Every cryptocurrency has the preset average block find time managed by a network. If the number of miners increases, the network hashrate goes up. The effective block find time becomes lower than the preset value. As a result, the network gradually increases its difficulty, that is, the difficulty of a problem that miners are solving. The network will keep increasing it until the block find time reaches the preset value.Same thing when the number of miners decreases. When miners leave, the network hashrate goes down. Miners need more time to find a block. So the network lowers its difficulty, thus making a problem easier to solve. Network Difficulty and Hashrate Explained.
How Are Network Difficulty and Network Hashrate Related?Difficulty and hashrate are closely related. If you divide network difficulty by network hashrate, you will get the average block find time of a cryptocurrency block.