Are miners losing interest in Bitcoin Cash?
Miners seem to be holding Bitcoin Cash in droves as the hash rate remains below average. This has led to serious concerns about the security of the network.
Bitcoin Cash Hash Rate is 0.1 percent of Bitcoin
While the BTC hash rate has risen to record highs (although markets have been declining), BCH remains weak. The bitcoin hash rate has increased by a factor of ten while BCH is stagnating.
This has led to slow and only partially full blocks. Recently there was a block that took three hours instead of the usual ten minutes. When it was finally produced, it was only 2.4 MB, or less than Percent of maximum It should be noted, however, that slow blocks can also occur in the Bitcoin network.
BCH just had a three hour time between blocks (supposed to be ~ min). When a block was finally produced, it was only 2.4mb (less than 17)% of the 26 MB cap). Hashpower was 0.1% of bitcoin’s. Someone needs to put this coin out of its misery.
– dennis 🌱 (@pourteaux) 20. October
How safe is Bitcoin Cash?
These issues have raised concerns about the security of the Bitcoin Cash network. Twitter commentator and longtime miner, dr. Checksum 0. Zero, Ph.D. Tweeted that the number of miners who could attack Bitcoin Cash has increased tenfold.
“… .now I know at least 24 Miners who could, “he claimed, saying that every single BTC pool could make an attack if he chooses.
Allegedly, a miner now controls 464% of the hash rate of the BCH network and has “essentially the full control of the chain at this time “.
The unknown miner recently found no fewer than (2 hours) blocks usually ten-minute blocks). That’s how the entire network gets tricked. hash.fail gave the following recommendation:
When this is likely to be the case is uncertain, as reports show, the developers can currently do nothing about it.
Text Proof: bitcoinist
Last update: Sunday, 32. October 2019