Bitcoin Cash 8MB Block Clears Over 37,000 Transactions
On August 16 at approximately 8 am EDT the mining pool Bitclub Network mined an 8MB block on the Bitcoin Cash (BCH) blockchain. Block #479469 cleared over 37,000 transactions from the mempool making it the largest block found so far on the BCH chain. Meanwhile, the BCH network continues to capture infrastructure development and industry support.
An 8MB Block Found on the Bitcoin Cash Blockchain Clears 37K Transactions
It’s been sixteen days since the inception of Bitcoin Cash, and the network split that took place on August 1. The BCH chain has been trucking along, and miners have processed 918 blocks since the hard fork. On August 16 around 6-7am EDT the BCH network seemed to be suffering from a spam attack as unconfirmed transactions filled up the mempool. Roughly an hour later a massive 8MB block was found by the mining pool Bitclub Network which cleared 37,814 BCH transactions. Two hours later another large block was mined on the BCH chain that was 4MB in size. Coincidently the legacy bitcoin (BTC) blockchain’s mempool has been filling up and has over 48,000 unconfirmed transactions at press time.
At the moment the BCH chain difficulty is performing at 13 percent of BTC’s difficulty. An unknown miner or group of miners has captured a vast amount of the BCH hashrate and has mined 90 percent of all the blocks found. No one has been able to confirm who the mystery miner/miners is or are, as the pool has left no clues to its location or identity. Currently, the BTC blockchain is 1311 blocks ahead of the BCH chain and is still 69 percent more profitable to mine.
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