Bitcoin Cash Halving Takes Place Tonight

The 5th cryptocurrency on the market, Bitcoin Cash (BCH), will make its first halving tonight around 6 p.m. The event takes place about 1 month before the Bitcoin (BTC) halving.

From block 630,000 on the Bitcoin Cash blockchain, the rewards distributed to minors will be automatically divided by 2. Entities that dedicate computing power to the network will now win 6.25 BCH per mined block, against 12.5 BCH before.

Aiming in particular to reduce inflation, this process occurs every 4 years and is part of the DNA of Bitcoin, which for its part will do its 3rd halving next month. Cryptocurrency Bitcoin SV, which like Bitcoin Cash is a fork of Bitcoin, will make its first halving this weekend. As a reminder, Bitcoin Cash was born out of a disagreement in the Bitcoin community that led to a fork in the summer of 2017.

The bitcoin cash halving occurs earlier than Bitcoin because cryptocurrency has temporarily accelerated its block creation process and thus delayed its arrival. A detail that could be important.

Indeed, according to Brad Jasper, developer Bitcoin SV, the halvings of Bitcoin Cash and Bitcoin SV will be "bad in the short term" because after the reductions in rewards, the miners will naturally turn to Bitcoin BTC.

The Norwegian research firm Arcane Research added that the exodus of minors to BTC will lead to a sharp drop in chopping power on BSV and BCH which may therefore pose a significant risk of51% attack 2 blockchain networks.

Finally, Alejandro De La Torre, the director of Poolin, one of the largest mining pools on the planet, said it was a " event to watch Because it would give an idea of ​​what should happen with the next bitcoin halving.

The Bitcoin Cash price seems for the moment to have reacted positively and registered a about 8% increase over the past 24 hours, based on data compiled by TradingView.