Miners have lost interest in Bitcoin Cash

Posted 29 October, 2019

The hashrate of the Bitcoin Cash network began to plummet amid falling coin value. According to several agencies at once, miners began to disconnect from the network from mid-October. Now the cryptocurrency hash is only 0.1% of the power of Bitcoin. 

Bitcoin hash has reached a new high over the past two weeks. The remaining altcoins show similar indicators, but do not get to the records. Bitcoin Cash is lagging not only in the exchange rate but also in computing power. If private miners continue to leave the industry, then the danger of a 51% attack will increase several times.

One of the miners under the nickname Dr. Checksum 0. Zero, Ph.D said that the number of mining pools working with BCH is growing, increasing the risk of attack. If the trend continues, then in December, a full monopoly will reign in the capacity market in the coin network. It is possible that now some pools are testing network attack options and can commit it at virtually any moment.

''In the beginning onle the too pools could attack BCH, now I know at least 20 miners who could, AND every single BTC pool. Soon there will be hundreds or thousands of miners who can also disrupt BCH like poolin have been doing.'' - tweeted miner.

Last year, one large mining pool managed to gain control over 52 percent of the Bitcoin Cash network capacity. As a result, this led not only to a reduction in the hashrate, but also to a drawdown of the asset itself.

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29 October, 2019 15:24

← DeFi project Synthetix raises $3.8 million

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