Bitcoin cash was on August 1 as a protest to Bitcoin Core’s implementation of segregated witness (Segwit) as a scaling solution. Claiming to be the true fulfillment of Satoshi Nakamoto’s vision for bitcoin as peer-to-peer electronic cash rather than a settlement layer, Bitcoin Cash instead chose to raise the block size from 1MB to 8MB, resulting in a hard fork that split the bitcoin blockchain into two different branches. The hard fork was initiated with a 1.9MB block mined by ViaBTC, but for a while, most bitcoin cash blocks were smaller than those on the main bitcoin blockchain. Unsurprisingly, this gave opponents–who refer to it as Bcash to avoid associating it with bitcoin branding–plenty of comedic fodder.

Interesting, 91% of blocks are *bigger* than blocks. We want smaller blocks back!

— Charlie Shrem (@CharlieShrem) BitClub Network Mines 8 MB Bitcoin Cash Block However, that changed on August 16. Early that morning, the bitcoin cash network appeared to incur a spam attack, as the number of unconfirmed transactions soared from a few hundred to more than 80,000 within a matter of hours. Chart from Jochen Hoenicke Within a short time, BitClub Network found an 8MB block that cleared 37,814 transactions. A few hours later, an unknown miner found a 4MB block.

This was quickly followed by two more 4MB blocks and then one 4.8MB block. The First 8 MB Bitcoin Cash Block Chart from BlockTrail Before long, miners had cleared the 80,000 transaction backlog and block sizes had returned to normal.

Asteroid DigiByte DGB Miner. Unknown Bitcoin Cash Miners Control Almost 97% of the. And a few other pools support mining BCH. The Bitcoin Cash mining difficulty is scheduled to adjust in. Mining BTC/BCH: Past, Present and Future. Many miners are clearly moving back and forth between Bitcoin and Bitcoin Cash in an attempt to maximize profits.

For reference, the main bitcoin network currently has about 58,000. Bitcoin Cash Network Stats Bitcoin cash supporters were ecstatic that an 8MB block was successfully found, believing it justified their split from the main bitcoin blockchain. However, one factor that some community members find concerning is that 91% of all BCH blocks have been found by an unknown miner (or miners). BCH Block Distribution Chart from Coin Dance Bitcoin blocks, on the other hand, are much more evenly distributed. In the past week, Antpool has found 18% of all blocks, the most of any mining pool. BCH Mining Profitability Chart from Coin Dance Another current problem is that bitcoin cash remains much less profitable to mine than the main bitcoin blockchain. According to Coin Dance, BTC is about 81% more profitable to mine than BCH.

However, this will change as the network difficulty continues to adjust downward. At present, its difficulty is 13% as great as the main chain’s. Featured image from Shutterstock. Follow us on.

In terms of currency-wise trade, 35.5% of it is currently supported by South Korean Won (KRW) while 22% is being carried out in U.S. BTC trade is around 36.5%, lower than 45% on Friday as per data from. In terms of exchange, a major share of trade activity is commanded by Bithumb (41.4%), followed by Korbit (9.43%) and Coinone (8.67%) representing the BCH/KRW pair. Bitcoin Cash has witnessed growing support from exchanges and wallets over the past three weeks. Ronny Boesing, CEO of OpenLedger APS, said, “Great to see the interest of BCH rising as it clearly starts to become lucrative for miners to get involved. OpenLedger's decentralized exchange​ will take a decision on adding Bitcoin Cash after it has managed to run successfully for three to four months, similar to the same way Coinbase and Bitstamp are managing BCH. Is Bitcoin BTC Mining Still Worth It. ” The overall cryptocurrency market cap is now at $145.7 billion with eleven cryptocurrencies having market capitalizations in the billions and together accounting for market share of 88.45%.

'The community is growing in India and China, I am witnessing it first-hand via the data we collect. I think BCH will continue to rise in price as more users adopt it and miners point their hashing power towards it” said Amith Nirgunarthy, CEO Blockstreet.