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August 01, 2014, 03:01:09 PM |
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In a nutshell, yes. To add a block to the chain, some miner somewhere has produced a share with difficulty of at least the current target (18,736,441,558 right now). At the end of January last year, that miner would only have had to produce a share with difficulty of at least 2,968,775.
Genesis block (block 0) difficulty: 1 Block 100000 difficulty: 14,484 Block 200000 difficulty: 2,864,140 Block 300000 difficulty: 8,000,872,136 Latest block (313500 at time of posting) difficulty: 18,736,441,558
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