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The Hash rate takes a hit following BCH halving

 
The Hash rate takes a hit following BCH halving
Breaking News / Bitcoin Cash / BCHUSD
  • The halving on BCH happened this week and has already seen the hash rate take a big hit.
  • There are many in the space to predict that some of the Miners would abandon it and move to a more profitable coin such as BTC.

The halving on the BCH network happened earlier this week and has already seen the hash rate take a big hit and the block generation slowing down significantly.

There are many in the crypto space to predict that at least some of the Miners on the network would abandon it and move to a more profitable coin such as BTC after their rewards were split too. But as the hash rate rises and falls on a day-to-day basis, the data for BCH is all up in the air.

As reported by CT:

“Fork.lol shows a 60% fall in the BCH hash rate from 4.36 EH/s yesterday to 1.6 EH/s at the time of writing (using a 12 hour average). Coinwarz has it falling from 3.9944 EH/s to 2.4595 EH/s, while Bitcoin.com’s chart actually shows the rate increasing slightly to 3.5 EH/s.”

Earlier this month, a report was published by arcane research which said that there was a significant risk that the hash rate would split along with the coin itself. They were also anticipating extremely volatile days in the run-up to the halving as well as the immediate aftermath of the event.

This all comes just over a month before the having on the BTC network. This is one of the most highly anticipated events in the crypto space to date. As for BCH though, its next halving won’t appear until 2024.

It will be interesting to see how this plays out. For more news on this, the BCH price and other crypto updates, keep it with CryptoDaily!

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