The first Bitcoin Cash block was created, containing 6,985 transactions

Bitcoin Cash miners started the first step of the fork at block height 478558 at 12:37 UTC on August 1. Six hours later, Viabtc mined the first Bitcoin Cash block ( #478559 ), and the third block was also mined by the Viabtc mining pool.

Bitcoin Cash is officially launched

The Bitcoin Cash blockchain successfully separated from the main chain at block 478559. This block was mined by the Chinese mining pool Viabtc, which later mined the next block 478560. The first Bitcoin Cash block was 1915175 bytes, or 1.9MB, and contained 6985 transactions. This capacity is higher than Bitcoin's 1MB limit, and the transaction throughput is also about 3,000 more. Viabtc also wrote "Welcome to the world" in the block data. The company also excitedly tweeted:

Bitcoin Cash hashrate increases, but price plummets

The price of Bitcoin Cash has dropped from a high of $400 to $220. The price of Bitcoin does not seem to be affected by the Bitcoin Cash block, and is still hovering around $2,700. In major forums and social media, everyone is talking about this fork. Of course, big block enthusiasts are celebrating this split, while small block supporters are looking forward to something bad happening.

Currently, the computing power of Bitcoin Cash is slowly increasing, accounting for about 3.9% of the Bitcoin network computing power. Currently, the Bitcoin Cash network has mined 5 blocks.