You might have heard that miners have to mine blocks for rewards, but did you know there comes a Mining Difficulty with it?
In very simple terms, mining difficulty is the degree involved in adding a new block to the blockchain.
Mining Difficulty is an essential component of the blockchain network, and it serves several purposes.
The network sets a target time for adding a new block to the blockchain. For example, Bitcoin's target time is 10 minutes.
Mining difficulty is a crucial component of the blockchain network. It ensures the network remains secure, stable, and fair to all miners.
Mining difficulty plays a vital role in maintaining the regularity of block addition in a blockchain network.