Bitcoin Cash Mining Difficulty Drops Significantly – Speeding Up The Chain

The game theory for miners begins to get more interesting as the BCH network has become 115 percent more profitable to mine than the Bitcoin blockchain. This is due to the digital currency’s price which is hovering between the $760-790 range and because of the difficulty drop down to 7 percent of the Bitcoin network’s difficulty. Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. BCH average hashrateper day has spiked significantly over the past four days to roughly 10 percent of the Bitcoin network’s seven exahash.

The mystery miner is now capturing fewer blocks over the past few days as other mining pools have picked up the pace. Mining pools like pool.Bitcoin.com, Bitclub, and Viabtc especially have been processing a lot more blocks recently, spreading out hashrate distribution. Viabtc has mined over 27 percent of the last 144 BCH blocks found, and the mystery miner now has only 68 percent. So far since the fork 1507 blocks have been mined and the fork is currently 1349 blocks behind the BTC chain. However, at the current speed of processing blocks and with the BCH network difficulty so low the chain should start to catch up.

In addition to the network difficulty changes, another mining pool has joined in on processing BCH blocks. The mining pool BTC.com mined its first block, 480002, on August 20, being the first pool to join since Bitclub last week. Additionally, accordingto Trustnodes the large mining pool BTC.top will begin mining BCH on Monday, August 21. Jiang Zhuo’er, BTC.TOP’s founder told the publication that there would be an option for miners to choose between BTC or BCH from the pool’s settings.

Full story at http://bit.ly/2wzxn4N

Source: Bitcoin News

 

 

 

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