This Is The Bitcoin Difficulty

In the world of Bitcoin and other cryptocurrencies, there are many technical concepts that may not be immediately understandable to beginners.

One of these concepts is difficulty.What exactly does this mean and why is it so important to the functioning of the Bitcoin network? In this article we clarify.

What Is A Blockchain?

 

We have also described the term blockchain again in our crypto glossary, but here it is elementary, hence the explanation here: The blockchain is also referred to as "distributed ledger", as "distributed ledger". Without this distributed ledger, cryptocurrencies would not be possible. Since it is ultimately just code, digital money is theoretically very easy to manipulate.

A hacker only needs to change a few numbers and suddenly he would be rich. However, the blockchain records the balance and transactions of the users in a forgery-proof and transparent manner. The blockchain is also decentralized. It is distributed across various computers and servers, which constantly exchange information with each other and agree on the current blockchain version. This ensures that there is only one current version.