News

The first halving in the Bitcoin Cash network was completed

The fourth largest cryptocurrency, Bitcoin Cash (BCH), completed its first halving on the 630,000’s block: the reward for each new block has now been halved.

The award was reduced today, April 8, at 13:19 Moscow time. Now for each new block, miners will receive 6.25 BCH, instead of 12.5 BCH, as it was before. At the time of writing, 6.25 BCH equals $ 1,660.

In March 2020, Bitcoin Cash miners received more than $ 13 million dollars as a reward for new blocks, and only $ 4200 for transaction fees. If the BCH rate stays the same, the expected miners’ reward for April will be less than $ 6.7 million.

According to CoinMarketCap, an analytical resource, the market capitalization of Bitcoin Cash at the moment is $ 4.9 billion, which is almost 30 times less than Bitcoin.

Image Source