Published on November 14th, 2017 | by bitcoin0
Bitcoin Cash Hard Fork Splits Blockchain to Ease Mining Difficulties
Bitcoin cash appears to be successfully navigating a planned hard fork.
Executed at roughly 21:00 UTC, the new version of the bitcoin cash blockchain has since amassed six blocks, while none have yet been mined on the older network.
The idea is that by doing so, bitcoin cash will avoid the sudden changes in difficulty that have encouraged large numbers of miners to switch frequently between the bitcoin and bitcoin cash blockchains, migrating to whatever version is offering the most in terms of rewards.
Cash and carry
Should the software upgrade ultimately hold, it could bode well for bitcoin cash.
Yimo Cheng, a China-based tax accountant who mines bitcoin out of his home, said he hasn’t yet started mining bitcoin cash for concerns about its ownership being concentrated among Chinese buyers.