Bitcoin Cash came out on the 1st of August, when the original blockchain got divided in two as a result of the hard fork. Bitcoin Cash aims to solve the problem of low transaction speed, caused by an influx of users to bitcoin network. Original Bitcoin blocks consist of only 1 MB of information — 8 times less the Bitcoin Cash block.
However, most of the time since the beginning of August Bitcoin Cash blocks remained smaller than the original ones. After two weeks of waiting BCH has finally demonstrated its first full-size block. It is reported that 37,000 transactions have been cleared as a result of the full block creation. On August 16, the number of unconfirmed transactions surged from a few hundred to 80,000 in a matter of hours. The network responded with a full 8 MB BCH block. Several blocks of 4 MB or more have appeared shortly afterwards.
It took BCH network a little bit more than 60 minutes to clear out 80,000 transactions. At the same time, the original bitcoin network can “boast” over 58,000 unconfirmed transactions. The event assured BCH supporters the split was justified. Still, the community is worried by the fact that 91% of all Bcash blocks have been created by an unknown miner. The currency is also less profitable to mine than BTC due to lower token price.
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