Roger Ver Stops Mining BCH After Hashrate Drops To 92%

Roger Ver stops mining the bitcoin cash coin after the BTC.com pool hashrate dropped by 92 percent as we are reading further in the upcoming Bitcoin Cash news.

Bitmain operated BTC.com and was able to capture about 51% of the network’s blocks which exposed the cryptocurrency to a 51% attack. Some of the other mining pools followed suit and left Bitcoin Cash mining network security to a new low relative to Bitcoin. Bitcoin Cash saw its hashrate drop instantly after the halving of the coin since two days ago so Roger Ver stops all mining processes because the network was brought to an all-time low. Even the other pools operated by Roger Ver stopped mining Bitcoin cash.

Bitcoin cash is one of the most popular forks of Bitcoin and went through a halving yesterday. This took the reward from 12.5 to 6.25 BCH and some expected that the price will react strongly to the event. Prices however increased after the halving by 17 percent. The miners on the network showed a different reaction. After the block hit 630,000 there was a 109-minute gap between the blocks. This is about 10x the normal minute block time before the network re-adjusted the mining difficulty. The transactions on the network were stopped during that time.

The data shows that there was a direct result of a hashrate drop which is a consequence of fewer dollars allocated to the mining process. The hashrate on the Bitcoin Cash network dropped from four exahashes per second to below one exahash which is a strong reduction of the hash rate. Other sources show that the Bitcoin Cash hashrate could have decreased further if there weren’t many mining pools operating at a loss to maintain the network. The largest mining pool BTC.com is responsible for the majority of the hashrate.

The data from blockchain shows that BTC.com mined 20 out of 36 blocks since the halving or about 56% of the blocks which put the network at a 51% attack risk. Other major mining pools saw drastic reductions in the hashrate. AntPool and Poolin saw a 65% and 44% drop in hashrate but the data shows that Bitcoin.com as one of the biggest mining pools also operated with major losses.