Bitcoin Cash halving in
Bitcoin Cash Halving - FAQ
As a result of a hard-fork on August 1st 2017 in the Bitcoin Blockchain ecosystem, a new cryptocurrency was created, which is knows as Bitcoin Cash, or BCH. The main reason why Bitcoin Cash emerged out of a hard-fork of Bitcoin is because Bitcoin blochcain was slow and at times expensive to process transactions. To improve the robustness and speed of Bitcoin blockhain, a decision was made to implement a technical solution called Segregated Witness, or SegWit2x. However, not all miners voted to support this solution because, in their view, it did not solve the scalability problem. As a result, those miners decided to establish their own blockchain, called Bitcoin Cash. The main distinction between the two is that BCH has a larger Block Size, which is equivalent to 8MB, and a mechanism with an adjustable level of mining difficulty, to ensure the overall stability and viability of the BCH blockchain.
No, it is not. Bitcoin Cash and Bitcoin have separate protocols, blockchains and miners validating transactions. Both cryptocurrencies are also traded under different symbols on exchange, where Bitcoin Cash is BCH, and Bitcoin is BTC.
This is an event, also known as halvening, that halves Bitcoin Cash Block reward every 4 years. Halving of Bitcoin Cash is very much identical to Halving of Bitcoin, as it also marks the finite supply of Bitcoin Cash. The maximum circulation supply of Bitcoin Cash is 21 million coins. Once halving takes place, it will be harder to mine new coins and miners will see Block Reward fall by 50%.
The next Bitcoin Cash halving is expected to take place in 2024 at Block 840,000.
Block Reward is the reward miners receive once the next block is mined. To mine a Block, miners need to solve complex mathematical equations using their hardware. Time interval between each Block mined is approximately 10 minutes. If a miner is lucky enough, or his mining equipment is superior and better than of other miners, then he may find the next Block on Blockchain. Current Block Reward of Bitcoin Cash is 6.25 BCH. Once the next halving in 2024 take place, Block reward will be reduced by 50%, i.e. to 3.125 BCH per block.
Bitcoin Cash only had a single Halving event in it`s history. It took place on the 8th of April, 2020 at Block 630,000. Block Reward was reduced by a half, from 12.5 BCH to 6.25 BCH.
Like Bitcoin Halving, Bitcoin Cash Halving event is also highly anticipated amongst it`s community. First, if marks the deflationary feature and limited supply of the following cryptpcurrency. Secondly, miners and sellers will have less BCH on hand, which eases off the selling pressure from the market. Thirdly, it`s a physiological milestone for holders and investors, as they realise that less and less of BCH is available to the market, which makes the asset very scarce. Many expect price of BCH to increase once halving takes place.
Bitcoin Cash Price is shown on this page under the block "BCH Price". It is a real BCH price in $ USD gathered from the real-time market of cryptocurrencies. Like any cryptocurrency, BCH is traded 24/7 all year round.