At night of April 8, after Antpool mined out the latest block, the long-awaited BCH finally finished halving as scheduled, and the mining output of BCH decreased from 12.5 to 6.25.

According to Poolin’s data, after halving, BTC’s profits per T is 0.89 Chinese yuan, BSV’s is 0.92 Chinese yuan, and BCH’s is 0.46 Chinese yuan, all get half-cut.

What happened to BCH that no blocks were mined after halving in two hours?

After mining out the first block after halving in Antpool, there was no more block in 120 minutes. Was BCH broken down?

Of course not. In fact, with the completion of halving, some BCH network hashrate escapes as the profits declines, which will cause the network is too difficult and the computing power is too low, thus affecting the blocking. In BTC network, the adjustment process takes 14 days, while in BCH network, this process is accelerated because of the update of DAA difficulty adjustment algorithm

Simply speaking, after the network hashrate suddenly drops, the block interval is lengthened, the network will synchronously reduce the difficulty so as to adjust the blocking time to about 10 minutes again. Or we can say that DAA can leave less impact on blocking speed even if 50% BCH network hashrate declines instantaneously.

Why are the halving schedules of BTC, BCH, BSV is different?

BTC, BCH and BSV are all get halved every 210000 blocks, and the average blocking time is 10 minutes. Their halving schedule is varied because it is reckoned from block interval. Precisely, the difficulty adjustment algorithm cannot guarantee the accuracy of 10-minute blocking time, no blocking for 30 minutes is also normal, which is amplified with time, resulting non-synchronization of schedule.

BTC’s difficulty adjustment algorithm stipulates that each 2016 blocks for once adjustment. However, BCH has just been born with small network hashrate. If it still inherits BTC’s difficulty adjustment algorithm, it will be very difficult and its computing power will be low. As a result, EDA algorithm, which can quickly adjust the difficulty has accelerated the blocking speed of BCH. But its coin production speed is too fast, and even about 123000 tokens are produced ahead of BTC. Therefore, EDA is updated to the DAA algorithm above, which makes BCH blocking output fix at about 144 blocks every day.

 Where does BCH network hashrate go? Will 51% attacks happen?

In the case of no fierce price fluctuation, half of BCH’s network hashrate will turn to BSV or BTC in a short time. However, BCH and BSV account for only about 3% and 2% of BTC’s network hashrate. Therefore, the influence of BCH’s network hashrate change is very small compared with that of Bitcoin.

Will BCH become vulnerable to attack and enter the death spiral because of its network hashrate escaping?

It won’t happen. First, with the adjustment of difficulty, the profit per T of BCH mining will return to the same level as BSV and BTC. In other words, crypto mining is always a dynamic and balanced process. If the value of coin keeps, So does the network hashrate.

As we all know, at present, the top four mining pools for BCH are AntPool, BTC.top, ViaBTC and BTC.com, which dominate more than 70% of the network hashrate. Precisely, these four mining pools either belong to Bitmain directly or stand with Bitmain, so they have no power to attack BCH. From the current situation of industry development, even though the BCH network hashrate is relatively small, practitioners are not likely to mobilize computing power to attack BCH.

Will invisible computer power owners make profit from attacking and shorting BCH? In fact, it is likely to come from players outside the mining industry, or at least not likely to attack above board.

However, it is undeniable that the above four mining pools are also the head computing power of BTC network. Therefore, when necessary, these computing power may flow into BCH network to resist attacks.