Bitcoin Cash mining difficulty changed

0
2125
Bitcoin, Bitcoin Price, Bitcoin Price surge

Bitcoin Cash mining difficulty has been changed and as of this writing it is operating at 26 per cent of the main chain’s mining difficulty – a change that has been witnessed for the first time ever.

The change in the Bitcoin Cash mining was brought about at block 478577. At the time the difficulty was lowered to 80 per cent and with each subsequent block the difficulty was lowered further until it reached a level of 26 per cent.

Analysts believe that the hash-rate may stay at the current levels for the time being as the network starts operating in normality. While the network operations are becoming normal, blocks are not yet running at the usual 10 minutes and one of the reasons could be that the hashrate is still lower than the difficulty.

The lowering of the difficulty makes old hardware useful again considering that Bitcoin Cash miners will be able to turn some profit. Small-scale miners who set-up a mining gird in their homes or garage using old hardware will be able to get those grids up again that were rendered unprofitable with rising Bitcoin mining difficulty.

Bitcoin Cash mining pools

If we look at the current scenario, there are only two known Bitcoin Cash mining pools – the first is the ViaBTC that is offering miners the option to direct their hashrate towards Bitcoin Core or Bitcoin Cash, and bitcoin.com, which is also doing the same. It was observed that there was a third pool or miner as well who backed the bitcoin cash network soon after the split happened.

It was believe that this third unknown miner or mining pool could be hackers, but considering that there was a pause of mining through that pool or miner after around 12 blocks and then a subsequent re-start after 12 hours, it is possible that the miner is a genuine one and probably a big blocker. However, with details sparse about this miner, there is another possibility that the miner could have been a group of many small miners.

Bitcoin Cash has managed to withstand the fork pretty well and has been a smooth sailing without any issues and no attacks.

LEAVE A REPLY

Please enter your comment!
Please enter your name here