DEFINITION of Block Time (Cryptocurrency)

Block time of a blockchain network is a measure of the average time taken by the hashing power of the network to produce a new block.

BREAKING DOWN Block Time (Cryptocurrency)

In simplest terms, the block time is the time needed to generate the next block in the chain. It is essentially the time the blockchain miners need to find a solution to the block hash.

Theoretically, each network has its own defined block time. For instance, the Bitcoin network’s block time is around 10 minutes, while the Ethereum network’s block time is around 20 seconds.

However, the precise time to mine the next block is unknown. The real time taken for block generation may vary around an average value, depending on mining difficulty. (See also, Bitcoin Vs Ethereum: Driven by Different Purposes.)