New blocks are added to the blockchain approximately every 10 minutes and network difficulty is adjusted dynamically every 2016 blocks in order to maintain a steady addition of new blocks to the network.
Network difficulty is calculated using the following equation: Target = Previous target * Time/2016 * 10 minutes Difficulty and target are interchangeable and represent the same thing.
A Complete Guide to Understanding This Blockchain Concept
Previous target represents the old target value, and time is the time spent to generate previous 2016 blocks.
Network difficulty basically means how hard it is for miners to find a new block, that is, how difficult the hashing puzzle is now.
In the next section, mining is discussed, which will explain how the hashing puzzle is solved.
Why This Matters for Blockchain Technology
Understanding Current size of blockchain as of 29/10/2017 is not just an academic exercise — it has real-world implications for how blockchain systems are designed, deployed, and secured. Whether you are a developer building decentralized applications, a business leader evaluating blockchain adoption, or a curious learner exploring the technology, this knowledge provides a critical foundation.
Key Points to Remember
- Current size of blockchain as of 29/10/2017 New blocks are added to the blockchain approximately every 10 minutes and network difficulty is adjusted dynamically every 2016 blocks in order to maintain a steady addition of new blocks to the network.
- Network difficulty is calculated using the following equation: Target = Previous target * Time/2016 * 10 minutes Difficulty and target are interchangeable and represent the same thing.
- Previous target represents the old target value, and time is the time spent to generate previous 2016 blocks.
- Network difficulty basically means how hard it is for miners to find a new block, that is, how difficult the hashing puzzle is now.
Conclusion
Current size of blockchain as of 29/10/2017 represents one of the many innovative layers that make blockchain technology so powerful and transformative. As distributed systems continue to evolve, a solid understanding of these core concepts becomes increasingly valuable — not just for developers, but for anyone building, investing in, or working alongside blockchain-powered systems.
Whether you are just starting your blockchain journey or deepening existing expertise, mastering these fundamentals gives you the tools to think clearly about decentralized systems and make smarter decisions in this rapidly evolving space.