The bitcoin fork on August 1, which produced the cryptocurrency and network Bitcoin Cash (BCH), turns one month old today Friday. The digital currency’s market value is lower than last week and the network’s hashrate has dropped considerably, as it is currently more profitable to mine the legacy chain.
Four Bitcoin Cash Mining Pools Move Back to the Legacy Chain
At the time of writing the BCH chain has processed 5737 blocks since the blockchain split. Currently, BCH is the longest chain ahead of BTC by 1504 blocks, and mining difficulty is still only 13 percent compared to the legacy chain’s difficulty. However, the price per BTC has risen exponentially to a new all time high, and it’s currently 25 percent more profitable to mine.
Because of this, many mining pools have switched back to the BTC chain and only seven pools remain on the BCH chain. The four ‘known’ pools still processing BCH blocks include pool.Bitcoin.com, Viabtc, Antpool, and BTC.top. The three ‘unknown’ mining pools are now capturing a larger portion of the network’s hashrate, processing 72 percent of the last 144 blocks. The BCH hashrate is currently operating at only ½ of an exahash as most of the pools are now back to pointing towards the legacy chain.
Four pools have left to mine on the legacy chain. Source:
https://news.bitcoin.com/bitcoin-cash-network-turns-one-month-old-and-continues-to-move-forward/
