On-chain data: Production cuts lead some investors to dump Bitcoin

Recently, the two sessions came to an end. On "4.21", the blockchain technology that has just been included in the national new infrastructure specification has once again set off a heat wave. More than 20 blockchain-related proposals were submitted by representatives of various parties, covering a wide range of fields such as medical care, urban construction, finance, etc., which fully demonstrates that blockchain technology is a widely popular and extremely strong New techniques for plasticity.

At the same time, the digital currency market based on blockchain technology also attracted another reduction in Bitcoin production in May. The current block reward has been reduced from 12.5BTC to 6.25BTC. Why cut production? When Satoshi Nakamoto created Bitcoin, he set the following rules: Bitcoin is dug out at a definite but decaying rate, and a new block is generated about every ten minutes, and each new block is accompanied by a certain amount from A brand new Bitcoin from scratch; its reward is halved every 210,000 blocks mined, with a cycle of four years. From the initial 50 bitcoins/block invented by Bitcoin to 12.5 bitcoins/block after 2016, to 6.25 bitcoins/block today, and will reach a total of nearly 21 million bits in 2040 After that, new blocks no longer contain bitcoin rewards, and miners' income comes from transaction fees.

Numerous eyes are focused on this four-year production cut, making Bitcoin's popularity on the Internet continue to rise. A large number of speculations about the future of Bitcoin after the reduction of production spread all over the Internet, and many celebrities also launched heated discussions around Bitcoin. The female writer JK Rowling popularized knowledge about Bitcoin.

And what happened to the data on the Bitcoin chain during this period? JD Zhilian Cloud exclusively sorted out the data changes on the chain before and after the Bitcoin production reduction.

After the reduction of production on May 12, the BTC computing power of the entire network began to decline gradually, and remained below 100EH/s most of the time. The halving of block rewards greatly reduced the enthusiasm of miners for mining. Within a short period of time, the mining machine cannot improve enough in performance to make up for this loss. At the same time, the blockchain data service of JD Zhilian Cloud shows that the computing power of other mainstream currencies has not risen significantly. It is predicted that this part of the computing power withdrawn from BTC is the retirement of the mining machine.

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Awakening address: the total number of addresses that have not traded for more than 30 days - less than 180 days, but have generated transactions today

It can be seen from the above figure that a large number of awakened addresses have traded in the first week after the production reduction, reaching a relatively high number of two awakened addresses this month. It is not difficult to see that the reduction of BTC production has caused some people to panic , dumped the bitcoin in his hand.