3 ms·

But what's the relation between that efficiency and the number of hashes computed? My understanding was that difficulty is increasing with efficiency so you end

by ta988 3y ago

But what's the relation between that efficiency and the number of hashes computed? My understanding was that difficulty is increasing with efficiency so you end up having to try harder to get a block mined successfully.

x86x87 3y ago
The difficulty gets periodically adjusted to generate a block roughly every 10 minutes. It's not really about efficiency as it's about computing power and available miners. If it's not economically beneficial to mine (costs more than reward) miners will stop mining leading to the difficulty decreasing which in turns makes it profitable to mine again.