Published on November 14th, 2017 | by bitcoin0
In a Bid to Calm Mining Difficulties Bitcoin Currency Hard Forks
Bitcoin cash appears to be successfully navigating a planned hard fork.
As reported by CoinDesk, today’s hard fork looks to switch the protocol to a different mining algorithm that will favorably adjust how hard it is for miners to create new blocks roughly every 600 seconds.
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.