Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen Bitcoin Cash (BCH, BCC) is a hard-forked version of the original Bitcoin, which is different from the original cryptocurrency in terms of its blocksize limits (Bitcoin has a 1MB blocksize limit whereas BCC proposes 8MB blocks) and the difficulty adjustments (as reported, Bitcoin Cash will adjust the difficulty every 6 blocks as opposed to 2016 blocks as with Bitcoin). Bitcoin Cash price chart on coinmarketcap.com. A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits It is believed, that this should improve over time, especially as Bitcoin Cash implemented a new difficulty algorithm designed to faster adjust back to normal. However, even with this algorithm, it could take weeks before blocks are found at typical ten-minute block intervals. Jimmy Song, Bitcoin developer and entrepreneur, explains how the difficulty on the Bitcoin Cash chain will change over the next 10+ blocks in his blog. Thus, according to the blogpost, Bitcoin Cash has a very particular rule about when difficulty can adjust downward. Rules for this are as follows: • Median Time Past of the current block and the Median Time Past of 6 blocks before has to be greater than 12 hours.

• If so, it gets 20% easier to create proof of work. In other words, miners can find blocks 20% easier. *Median Time Past (MTP) is just the median of the last 11 blocks. That is, put the last 11 blocks in time order and pick the middle one.

View Bitcoin Cash daily historical data (OHLCV): Toggle navigation CoinMarketCap. (BCH) Bitcoin Cash (BCH) 1619.92 USD (2.01%).

This is used because sometimes blocks mined later have earlier time stamps (some technical reasons related to different clocks). Jimmy Song also attaches a chart in order to help to project the difficulty adjustment: Jimmy Song's Bitcoin Cash difficulty adjustment chart As Jimmy Song claims, there are a bunch of blocks that have not been mined yet, but even if they were instantly mined, we would have 6 difficulty adjustments on blocks 478577 to 478582. This will reduce difficulty 20% each so we will have blocks that are 0.8⁶ ~ 0.262 as hard to mine. That is, miners will need to put in about 1/4 the work to mine a block. This may explain why there was a 13 hour gap between blocks 478570 and 478571. Miners may simply have wanted the chain to be easier to mine! Jimmy Song Bitcoin developer and entrepreneur Upd.: Bitcoin Cash has changed its mining difficulty.

As predicted, a Bitcoin fork has now changed its difficulty, currently operating at 26% of the main chain’s mining difficulty. The change happened at block 478577, which was found at around 4AM London time on August 3rd, 2017. Best BURST Mining Computer. It lowered difficulty to 80%, with the next 5 blocks lowering it further until block 478582 lowered it to 26%.

Nischal Shetty, co-founder of Crowdfire, a social media management app for Twitter and Instagram, has announced plans to launch a new Bitcoin and cryptocurrency exchange called WazirX. The platform will be launched in March. We intend to be transparent about how we build the product, why something’s not working right, what coins to list, what features to build next etc. We want to be vocal about everything we do and involve our community to help us decide the way forward. It’s time to change all that and bring in mass adoption of crypto in India! Nischal Shetty Co-founder, Crowdfire The exchange will also offer WRX, a brand new coin which will be an integral part of the trading platform in the future. In order to award early adopters, about 15% of the total supply of WRX Coins is being offered free, with a free giveaway target of 150 Mn WRX coins.

The post stated, “When you pre-signup to WazirX, you’ll get 500 WRX coins. You will also have your own way of spreading the news further and making your family and friends part of the give away through the referral program.” He added that as far as pricing is concerned, WazirX is currently at the free giveaway stage and hence there’s no way to price it at the moment. However, if you look at how the market prices a coin, it’s all about the product, tech, team, and a number of people holding it.

Since we’re distributing WRX to early adopters, we expect thousands of WRX holders. As a team, we’ve built Crowdfire and scaled it to 19 Mn users now. I expect a good price for WRX when we list. We’ll disclose more details about pricing as we get closer to our free giveaway target of 150 Million WRX coins.

Nischal Shetty Co-founder, Crowdfire The news comes on the same day the Finance Minister Arun Jaitley, while presenting the Union Budget 2018, stated that although the Indian government favors blockchain, it will do every bit to stop Bitcoin and other cryptocurrencies trading in India from financing illegitimate activities.