bch


0
Share via
2 shares
bch

COIN KUDUĀ®

Advertise Here

Make šŸ’° on YouTube? (ends soon) Subscribe & learn how šŸ’ø

Bitcoin cash is a cryptocurrency fork of Bitcoin classic. It was created in august 2017. It is worth noting that Bitcoin cash increases the size of blocks, which allows more transactions to be processed. Bitcoin mining is the process by which transactions are verified and added to the public ledger (known as the block chain). It is also the means through which new bitcoins are released.

The process of mining bitcoin cash.

You must be wondering how bitcoin cash is mined. There are two main activities involved:

1. Mining for blocks.

2. Addition of transactions to blocks.

1. Mining for blocks

When mining for blocks, miners use their computing power to find new blocks.

The new blocks are to be added to the block chain. The entire process is under ‘proof of work’ protocol. When a new block is discovered, the miners who made the discovery are rewarded handsomely. Currently the reward goes at 12.5 bitcoins. There are other incentives available too.

2. Addition of transactions to blocks

The second stage involves adding transactions to blocks. When a new block is discovered, the group of miners responsible for the discovery become temporary dictators of that block. When a miner needs to send some bitcoin cash to another, he will not do it physically. It is a transaction that has to be added to the blocks in the chain. Miners usually charge a fee if you want your transaction added to the blocks. It is after the addition that the transaction is deemed complete.

It is worth noting that both cash and bitcoin use the same SHA256 hashing algorithm. This means that they fight for hashing power from the same group of miners. Bitcoin cash is however more profitable to mine.

The top miners of cash are ViaBTC, AntPool, BTC.top, BTC.com among others. The mining profitability of the coin depends on the value of the coin, its fees and the difficulty involved in the mining. Difficulty in mining increases as more miners contribute their hash rate to the coin. This leads to reduced mining profitability. Currently, the coin has the second – highest 24-hour trading volume. It stands at $1.2 billion.It is also very encouraging to mine the cash (BCH) because exchanges such as Bithumb, Bitfinex and HitBTC allow the bitcoin cash to be deposited, withdrawn and also to be traded.

Bitcoin cash is focused on reversing a trend where very few online merchants accept the bitcoin. This will be made possible by adopting bigger block sizes. It will also refuse to adopt SegWit. With these mechanisms in place, the coin will definitely scale up so that its block chain supports more total transactions. This is referred to as on-chain scaling.

The process of mining cash is not as complicated as many would think. A few formalities and processes need to be observed and the overall process will give out the bitcoin cash. It is imperative to note that bitcoin was the first ever decentralized cryptocurrency.


Like it? Share with your friends!

0
Share via
2 shares

What's Your Reaction?

cute cute
0
cute
damn damn
0
damn
adore adore
0
adore
scary scary
0
scary
vomit vomit
0
vomit
wtf wtf
0
wtf
cry cry
0
cry
laughcry laughcry
0
laughcry
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
Try Spin to Win!
Kindly get back to your previous orientation view... your wheel is rolling there...
Spin to Win!

Congrats! Your coupon has been sent to you via email (claim your coupon in the next 24 hours before it expires)
COIN KUDUĀ® Coupons
Love saving money? Give it a spin!
#1 Enter your best email
#2 Click the button below to spin the wheel
#3 Claim your prize in the next 24 hours
reminder: if email is not in inbox, then check spam folder

Share via
close-link
Crypto Explained
Want to Learn More about Crypto? (we can help)
Bonus:Ā  The Entrepreneurs Guide to Succeeding in the New World of Cryptocurrency ($197 value for FREE but only while they last!)
Get Started
COIN KUDUĀ®
Influencer Marketing
Want to be an Influencer? (try Social Pilot for FREE)
Bonus:Ā  Skyrocket Your Income and Maximize Exposure by becoming an Influencer ($197 value for FREE but only while they last!)
Get Started
COIN KUDUĀ®
close-link
Top 10 Affiliate Programs
What are the Best Affiliate Programs? (here are the top 10)
Bonus:Ā  Learn the Most Commonly Used Terminology in the Multi-Million Dollar Affiliate Industry ($197 value for FREE but only while they last!)
Get Started
COIN KUDUĀ®
close-link
NFT Payday
Want to Learn More about NFTs? (we can help)
Bonus:Ā  Discover How to Start Making Money with In-Demand NFTS Quickly & Easily ($197 value for FREE but only while they last!)
Get Started
COIN KUDUĀ®
NFTs Explained
Want to Learn More about NFTs? (we can help)
Bonus:Ā  Learn Everything You Need to Know about NFTs & How You can Get Started Today ($197 value for FREE but only while they last!)
Get Started
COIN KUDUĀ®
Yield Farming
Want to Learn More about Yield Farming? (we can help)
Bonus:Ā  Learn Everything You Need to Know to Make Money in the Exciting World of Yield Farming ($197 value for FREE but only while they last!)
Get Started
COIN KUDUĀ®
Play-to-Earn Gaming
Want to Learn More about Play-to-Earn Gaming? (we can help)
Bonus:Ā  Discover how You can Quickly Earn Money Playing Fun & Easy Blockchain Games ($197 value for FREE but only while they last!)
Get Started
COIN KUDUĀ®
Blockchain for Business
Want to Learn More about Blockchain? (we can help)
Bonus:  Discover the Many Ways Your Business could Benefit from the Power of Blockchain ($197 value for FREE but only while they last!)
Get Started
COIN KUDUĀ®
DeFi Explained
Want to Learn More about DeFi? (we can help)
Bonus:  Discover the True Power of Defi & How it could Transform the Future of Your Business ($197 value for FREE but only while they last!)
Get Started
COIN KUDUĀ®
Love Shopping?
Shop Now
close-image
close-image
Congrats! Your coupon has been sent to you via email (claim your coupon in the next 24 hours before it expires)X