It seems that a single mining pool was gaining more than half of the total mined blocks on the entire Bitcoin Cash’s network today. Mining pool, BTC.TOP is reported to have reached more than half of the total Bitcoin Cash (BCH) hash rate.
During the last 24 hours, Bitcoin’s mining difficulty has dropped more than 9 percent as the fallout of the prolonged market rout continues. Despite a recent recovery that has taken bitcoin above $4,000, miners are still finding it difficult to remain profitable.
Splits in the BCH developer community are quite imminent as different camps propose their own Bitcoin Cash Satoshi Version with different views over the technical future of the digital currency.
Many of the community members have raised concerns about the centralization of the Bitcoin network that would further result in major attacks.
Over the last 24 hours Bitcoin cash gained about 10 percent to its price.
The new cryptocurrency has more than doubled in value during the last few days and keeps getting more support from the cryptocurrency community.
The Bitcoin Cash network gains momentum, even though the difficulty is a lot lower than that of Bitcoin and mining the latter is still more profitable.