Author: Liang CHE
At 20:19 on April 8th, Beijing time, the Bitcoin Cash blockchain reached the height of 630,000 blocks, completing the first halving, and the block reward was reduced by 50%, from 12.5BCH to 6.25BCH.
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After the halving, according to the comparison data, the price of Bitcoin Cash continued to fluctuate slightly around $ 260. Regarding the fact that its price did not respond significantly to the halving, well-known crypto commentator Hodlonaut said that this was due to the “zero hype and zero attention” of Bitcoin Cash, so the project was “dead”, and his view It was strongly opposed by the Bitcoin Cash community.
A report by LongHash, a cryptocurrency data news site, shows that after the first official halving, Bitcoin Cash will be "hit" in terms of security. LongHash writes that the decline in block rewards "will lead to a decrease in security, because the decline in the value of block rewards will reduce the incentives of miners to use their hashing power to protect the network."
This seems to be happening. Bitcoin Cash dug out the first new block after the halving of the reward after the halving of the reward halved, indicating that the miners have shut down the miners to cope with the decline in block rewards. According to data from the Ant Mining Pool, the computing power of the Bitcoin Cash network decreased from 1805 PH / s to 1169 PH / s after halving, a drop of 35%.
However, correspondingly, the difficulty of mining will be adjusted, which will restore the security and speed of the Bitcoin Cash network.
Nonetheless, Bitcoin Cash miners still have problems with profitability. According to F2Pool data, based on the current price of BCH and the latest hash rate of the network, assuming an average electricity fee of $ 0.05 per kilowatt, then various mining equipment launched in 2018 and early 2019 will now generate negative profits every day. Even the gross profit margins of some of the latest miners listed at the end of last year and early 2020 have dropped to around 10%. Only the most powerful mining machines can generate more than 30% of profits, but these mining machines have not yet been launched to the market on a large scale.
Regarding the halving of Bitcoin Cash, according to the blockchain report of Wu said, Bitmain founder Wu Jihan said in the BCH community live broadcast that the most important key of Bitcoin Cash is to establish an ecology, how many people can use Bitcoin Cash and The key to staying in this ecosystem depends on how many users will be in the next three to four years, and to make technical and ecological reserves on the eve of the cryptocurrency's outbreak.
Jiang Zhuoer, the founder of the Lebit mining pool, said in a live broadcast that the halving is not news positive, but continuous.
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