Bitcoin tries to maintain 10 minutes between each block. This gives everyone in the world enough time to update their ledgers. Consistency is difficult when millions of machines are turned on and off every day. And yet, bitcoin is still becoming more reliable by the block

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  • writeups

    A collection of various writeups on research topics (by sipa)

    • However, averaged over sufficiently long periods of time, the duration of blocks tends to be 600.5958 seconds (10 minutes times 2016/2014, see https://github.com/sipa/writeups/tree/main/bitcoin-difficulty-adjustment for a very mathematical explanation). If the average tends to less than that, it implies the hashrate is on average growing. If the average tends to more than that, it implies the hashrate is average shrinking.

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