In March , Bitcoin Cash miners earned $ million for mined blocks and less than $ 4, from transaction fees. Thus, after halving the rewards, they will earn only $ million if the hash rate of the Bitcoin Cash network and the BCH rate do not change. Bitcoin Cash Block Reward Halving Countdown website. Reward-Drop ETA date: 07 Apr The Bitcoin Cash block mining reward halves every , blocks, the coin reward will decrease from to coins. The fifth largest cryptoasset by market capitalization and a hard range Bitcoin (BTC), Bitcoin Cash (BCH), has just experienced its first reduction by half, seeing the mining reward reduced by half, to BTC (USD 1 ) per block, which reduces the supply of new coins entering circulation. (Updated at p.m. UTC: updates in bold).
Bitcoin cash reward halfBitcoin Cash Block Reward Halving Countdown
As noted, it is the first of three major bitcoins to cross this event. That said, some analysts believe the miners will go from BCH and BSV this month until Bitcoin is cut in half, trying to make up for the lost revenue. Cryptographic analysis firm Arcane Search also said that in order to avoid slow block discoveries due to a lower hashrate, a difficulty setting algorithm was included in the BCH fork with more frequent difficulty settings than BTC.
Jihan Wu, CEO of a major manufacturer of cryptographic mining equipment Bitmain and a BCH supporter, said in a livestream see below today, that this halving is an important step for BCH as it proves that it can handle such an event, despite some who doubt.
In addition, he added that he does not think BCH should take more significant steps to become more compatible with DeFi. Rather, BCH should stay focused on the technology roadmap and make it highly scalable, Wu added.
He also believes that once the pandemic is over, the BCH will reap many benefits from the economic crisis — but not if people lose the control the pandemic and cannot return to work.
The price of BCH has appreciated by 1. It is one of only two pieces currently green among the top 10 pieces, the other being BSV.
That said, some analysts have previously said that cutting it in half may not have much effect on the price. Simon Dingle, cryptocurrency analyst and author of In math we trust , Told Cryptonews.
Because of this, some days had one block generated per hour and others one block generated per minute, which "allowed miners to inflate the BCH supply much faster than what was intended in bitcoin, by accelerating the generation of new blocks," said the firm, adding: "This acceleration is the reason behind the early halving of BCH and BSV.
Jihan Wu, CEO of major crypto mining hardware manufacturer Bitmain and BCH supporter, said during a livestream see below today, that this halving is a huge milestone for BCH as it proves that it can handle such an event, despite some doubting it. Also, he added that he doesn't believe that BCH needs to take larger steps to become more DeFi -friendly. Upgrading the protocol would cause an inter-community fight and it's generally better to stay away from "aggressive" steps on the protocol itself, he said.
Rather, BCH should stay focused on the technological roadmap and making it highly scalable, Wu added. He also believes that once the pandemic is over, BCH will see a lot of benefits from the economic crisis - but not if people lose control over the pandemic and won't be able to get back to work. The price of BCH has appreciated 1.