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News Link • Bitcoin

Antpool Begins Burning BCH Network Fees Increasing Digital Scarcity

•, Jamie Redman

Antpool is one of the oldest mining pools in the cryptocurrency ecosystem and is operated by the company Bitmain Technologies. Just recently it was discovered that the mining pool was sending bitcoin cash (BCH) to an unspendable address utilizing a process known as "burning." Burning means the coins sent to the address can never be spent again and some people believe this process increases digital scarcity. Antpool states this Friday that BCH is nearing a "tipping point of becoming a widely used public blockchain," and the decentralized currency has a "wave of innovation" forthcoming.

The mining pool mentions the latest Memo application and the many other platforms being built on the BCH chain. Further, the organization mentions the upcoming hard fork taking place on May 15 which aims to increase the block size to 32MB. Additionally, Antpool says that "more and more useful applications will be enabled on BCH" because of the enlarged OP_RETURN spaces, and re-enabled OP_codes. Antpool explains that it understands that BCH will be a cryptocurrency that will be widely used and spent but holding investors are also critical to the economy.         

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