Bitcoin Cash(BCH) Halved
Cryptocurrencies cannot work without certain updates. Innovations help digital assets better adapt to market conditions and more effectively meet the requirements of their own customers. The creators of Bitcoin Cash (BCH) also understand these simple rules. That is why today the coin survived the halving. Next, we will tell you everything that brought this event to the coin system. Should I change the tactics of working with Bitcoin Cash? What is halving in general? Let’s get it right.
What is halving?
Before further discussing the event that occurred with Bitcoin Cash, you need to understand what is meant by the term “halving”. This process is related to mining. The fact is that the reward for the extraction of coins must change. Otherwise, the network will begin to degrade and gradually lose its own performance. As the number of connected computers to the Blockchain of the coin grows, competent creators always reduce the reward for token mining. This reduction in reward is called halving. In the case of Bitcoin Cash, the event occurred on the block under the number No. 630000. Now miners receive not at 12.5 BCH, but at 6.25 coins.
Reducing the reward of miners is great for the price. This is logical, the scheme is simple and straightforward. If they get less for mining, then new coins appear more slowly, gradually increasing in price. A kind of “deficit” always raises prices. In order to get an expensive coin as soon as possible, users begin to actively connect equipment and interact with the system in every way. In pursuit of profit, users make the system work faster and more efficiently. That is why halving is a useful and inevitable phenomenon for all cryptocurrencies. Separation has already occurred with the first crypto, so you should not be afraid of such an event.
After halving, the system often lulls. Miners should overestimate the efficiency of cryptocurrency mining based on new rewards. It happened with Bitcoin Cash. The first hour after the halving, no new blocks were mined at all. However, then, after 2 hours, crypt mining finally began. This suggests that cryptocurrency is still interesting to users and it is still profitable to mine it. Now we will figure out how to work with Bitcoin Cash after halving.
The fate of Bitcoin Cash(BCH) in 2020
The popular hard fork of the first cryptocurrency has long ceased to be an ordinary parody of Bitcoin (BTC). Today, this coin is a serious market asset that attracts millions of investments. However, the company is currently going through hard times. Most recently, Stefan Rust left the work team. The SEO head of the company was a key figure in the whole company and now, obviously, without his influence, the positions of BCH will fall somewhat. However, for now, the coin is showing steady growth. Of course, large percentages have not yet been demonstrated, but the price is moving up. Today it is a rarity, as most coins fall steadily in terms of value. Rising price tags suggest that mining BCH should be especially active right now. Halving will force miners to work more carefully and intensively. This will positively affect the entire system and lead the coin to new heights.
When the cryptocurrency crisis ends, the positions of BCH will become even better and more profitable for investments. However, you should connect to this coin today. If you have the appropriate equipment, start mining Bitcoin Cash as soon as possible. If something changes, we will be the first to notify our readers of all the news of the crypto industry. Keep track of current events with us. We publish only high-quality and interesting material. Thank you for attention. Good luck!