Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)

Babbitt Information (ID: bitcoin8btc)

, Author: Ekin Genç, Compiler: Libert, published with permission.

According to a Decrypt report on November 21, the mining difficulty of Ethereum hit a two-year high on that day.

According to data from the market analysis company Glassnode, the mining difficulty of the Ethereum blockchain jumped to 3650TH at around 11:15 UTC on November 21, which is the second highest level in history and is only a short distance from the highest value in history.

According to data from Glassnode, Ethereum’s mining difficulty reached an all-time high of 3651TH on August 9, 2018.

Ethereum's mining difficulty is a measure of how easy it is to mine a block on the Ethereum blockchain. Ethereum transaction processing needs to be done by mining blocks. This value depends on the number of active miners on the network. As miners increase their computing power, so does the difficulty of mining; this ensures that blocks are not generated too quickly.

Ethereum’s mining difficulty increased throughout the year, but began to spike at the end of August when DeFi saw its final wave. Investors poured billions of dollars into ethereum-based decentralized exchanges and money markets, leading to a spike in activity on the ethereum network.

Maybe Ethereum has Bitcoin to thank. The price of the largest cryptocurrency by market capitalization has risen by about $8,000 from about $10,500 in early October.bitcoinAlthough the mining difficulty of Bitcoin is much higher than that of Ethereum, reaching 134.57 EH/s, the trend of mining difficulty of the two is very similar.