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News Link • Bitcoin

Bitcoin Cash Hard Forks In Bid to Ease Mining Difficulties

• coindesk.com by Pete Rizzo

At press time, the majority of the network nodes (roughly 82 percent) have transitioned to new software (version 0.16.0 or later) that includes rules aimed at making the protocol's reward distribution more attractive to the miners that secure its blockchain.

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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 results suggest that, while still possible, the fork will pass without the creation of a competing cryptocurrency.

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.

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