Hashrate is hitting an all-time high and this indicator is causing confusion about the halving cycle .

Rumors of Bitcoin Halving Coming Sooner Than Expected Because of Peaking Hashrate - Is It True?
Rumors appear Bitcoin Halving is coming sooner than expected as hashrate peaks – Is it true?

Hashrate Bitcoin – an important metric to reflect the computational effort required to secure the network The Bitcoin halving, which is currently in an all-time high, has caused a “wave” of misunderstandings from some parts of Twitter about the schedule for the Bitcoin Halving to take place more quickly than expected, specifically in the fourth quarter of 2023. instead of 2024.

The reason why the majority of the community is looking forward to an early "destination" for the Bitcoin Halving is also understandable, because based on the past cycle, after each Halving, the price grew strongly, thereby leading to an uptrend season for the whole market .

However, the above argument is incorrect. First, Bitcoin's algorithm is designed to prevent the halving schedule acceleration. BTC miners process transactions and compete to add a new block to the Bitcoin network approximately every 10 minutes, in addition to a number of influencing factors, such as the number of miners or improved technological equipment. can make it a little easier or a little harder to mine blocks.

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Next, the Bitcoin algorithm tracks the difficulty and adjusts them every 2,016 blocks (about every two weeks) to keep that block mining time at 10 minutes, while also controlling the number of miners. Bitcoin gets rewarded for processing transactions and securing the network.

When Bitcoin launched in 2009, miners received 50 BTC for successfully mining a block. That reward is halved every 210,000 blocks, roughly every four years (Halving), and the next one will take place in 2024.

The hashrate changes will not significantly alter the Bitcoin halving schedule as the Bitcoin algorithm prevents any catalyst from affecting the block time by adjusting the difficulty to match any external conditions. which existed at that time. So a jump in hashrate will not involve pushing the halving date to Q4/2023 as the community thinks.

To clarify this point, one Bitcoin developer responded to the above posts as follows:

“Perhaps you are only interested in hashrate without mentioning mining difficulty.”

At the same time, the platform provides the index on-chain Bitcoin is Hashrate Index also agrees with the opinion that the Bitcoin Halving time will not change at all.

“Bitcoin halving will not happen by the end of 2023. For this to be true, BTC block times will need to maintain an average of 8 minutes from now.”

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