For most of the year, the Bitcoin network was running faster than expected, which led to the issuing of additional coins, TrustNodes reports.
According to the algorithm, the search time for a new block is about 10 minutes. Miners were supposed to find 144 blocks per day, but over the past year, this figure averaged to 147.73.
BTC.com data shows that over the past 365 days, 53,922 blocks were found, although the predicted figure was 52,560 blocks. Consequently, miners added 1362 “superplanned” blocks to the blockchain through the year, with a reward of 12.5 BTC, which means 17,025 bitcoins or more than $ 128 million at the current exchange rate.
The hashrate of the network grew throughout the year, setting a historic hight in October. Recently, the indicator has fluctuated significantly amid falling cryptocurrency prices.
That’s by a small amount of the total inflation rate, but it is more than $100 million adding to supply which miners may have sold or maybe are selling on the market, instead of holding it.