Coin Edition -
- Bitcoin network faced a one-hour block production delay on Tuesday.
- The one-hour lapse in a new block on the Bitcoin network is not unprecedented.
- Bitcoin recorded two instances when the network failed to produce a block for nearly two hours in 2021.
Data has shown that the Bitcoin (BTC) network has again experienced a historic temporary lapse in block production, with a notable pause that lasted over an hour. According to Bitcoin’s dedicated blockchain explorer, a delay occurred on November 7 as the network failed to produce a block between 16:47 and 17:56 (UTC+8).
Prominent Chinese reporter Colin Wu spotlighted this development in a recent statement on the X platform (formerly Twitter), citing information from the Bitcoin Explorer website.
The Bitcoin network did not produce a block for about an hour from 16:47 to 17:56 (UTC+8) on November 7. In May 2023, the Bitcoin network twice did not produce a block for nearly an hour. In 2021, the Bitcoin network experienced two times for nearly 2 hours.… pic.twitter.com/X2xVPsmliD— Wu Blockchain (@WuBlockchain) November 7, 2023
Meanwhile, the recent over one-hour lapse with no new recorded block on the Bitcoin network is not unprecedented. Colin Wu provided a historical overview of instances where the Bitcoin network experienced similar block production delays.
Wu disclosed that in May 2023, the Bitcoin network faced two separate instances of block production delays, with each delay lasting almost an hour. Looking back at 2021, he noted the network encountered even more protracted delays in block production. Specifically, there were two instances when the network failed to produce a block for nearly two hours each time.
It is worth mentioning that the Bitcoin network has a ten-minute average for block transactions. Therefore, the recent lapse could reportedly be attributed to various factors, such as network congestion, fluctuations in the mining hash rate, and changes in the network’s difficulty level.
Notably, the top Bitcoin miners recorded on Bitcoin Explorer include Foundry USA, AntPool, ViaBTC, Binance Pool, and F2Pool.
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