What effect do Bitcoin network hashrate changes have on network difficulty?
As you know, Bitcoin network uses a consensus of proof of work or mining which a group of people introduce devices called miners into the network to perform a series of mathematical calculations. The unit on which these calculations are measured is called “hashrate”. The more devices there are or the more powerful those devices are, the higher the hashrate of those devices. Conversely, as much as miners are forced to turn off devices, the hashrate of that network decreases.
Basically, the hashrate unit is th/s on different devices. What happens if people turn off their devices? There are two general issues, the first is that the price of that currency decreases or people who are mining may have a power outage or not be allowed to operate by the government.
One of the most important reasons for the increase in hashrates is the rise in the price of digital currency, which is also more profitable for miners. There is an important point here as well; We can see the difficulty of the network with a diagram called “Difficulty”. This chart is more linear and its fluctuations are not like hashrates. The main application of network difficulty is to adjust the network difficulty every two weeks based on changes made to the hashrate.