What is the concept of “mining difficulty” in cryptocurrency?

Mining difficulty refers to the level of computational effort required to solve a cryptographic puzzle and successfully add a new block to the blockchain. In proof-of-work-based cryptocurrencies like Bitcoin, the mining difficulty is adjusted periodically based on the network’s total hashing power to ensure that blocks are mined at a consistent rate, approximately every 10 minutes in Bitcoin’s case. When more miners join the network, the difficulty increases, making it harder to mine a new block, while a decrease in miners leads to lower difficulty. Mining difficulty plays a key role in maintaining the security and stability of the blockchain network.