BCC mining revenue surpasses BTC, miners face a choice

On August 20, starting from block height 479808, the mining difficulty of the Bitcoin Cash (BCC) network was adjusted to 7% of the BTC mining difficulty. Since then, another Bitcoin mining pool (BTC.com) has started to participate in the block mining of the BCC chain, and the mining pool has now mined its first BCC block.

BCC mining difficulty adjusted to 7% of BTC

Bitcoin miners are facing a game of chance. The current mining revenue of the BCC network has reached 115% of that of the BTC network. The reason is the reduction in the difficulty of BCC mining and the surge in the price of its tokens. Currently, the block generation speed of the BCC chain is about 3-7 minutes. In the past four days, the average daily computing power of the BCC chain has reached 10% of the computing power of the BTC network.

As other mining pools pick up the pace, the number of BCC blocks that the mysterious miner can mine has begun to decrease. Mining pools such as pool.Bitcoin.com, Bitclub, and Viabtc have recently started to work on the BCC chain. Of the 144 BCC blocks produced in the past, 27% were mined by Viabtc, while the number of blocks mined by the mysterious miner has dropped to 68%. Since the fork, the number of blocks produced by the BCC chain is 1507, which is 1349 blocks behind the BTC chain. However, given the low difficulty of the current BCC chain network and the fast block processing speed, in theory, the BCC chain will be able to catch up with the BTC chain.

BTC.com mining pool joins BCC mining, other mining pools will follow suit this week

In addition to the adjustment of network difficulty, another mining pool has participated in the BCC chain. The BTC.com mining pool mined the first BCC block of the mining pool on August 20, with a height of 480002. In addition, it is said that the large mining pool BTC.top will start mining BCC from August 21. Jiang Zhuoer, the founder of the mining pool, told reporters that the mining pool will make relevant settings to allow miners to choose between BTC and BCC.

Bitmain's Wu Jihan expressed his views on BCC

Bitmain founder and AntPool head Jihan Wu issued a statement on August 17, "When pro-SegWit mining pools start mining the BCC chain, AntPool will start offering BCC mining options," meaning that in the near future, as more mining pools join the BCC chain, Wu's AntPool may also participate in the mining of the BCC digital currency. A few days later, Wu made a more interesting statement on the topic of BCC and BTC.

“If you want to kill BCC, please let Brian Armstrong list BCC trading. Because Coinbase has a lot of investors who want to sell their BCC,” Wu Jihan said on Twitter. In addition to this statement, Wu Jihan also responded to his Twitter followers with a thought-provoking metaphor.

“The United States is not the United Kingdom, the United States is the United States. BCC is not Bitcoin, BCC is BCC.”

At press time, BCC prices have retreated from Friday’s high of $960 and are currently hovering around $760.

What do you think about the recent changes in the BCC network?