BCH’s Staunch Proponent Jiang Zhuoer Switched All Mining Capacity to BTC During BCH’s Stress Test, Questioned By Netizen
Bitcoin Cash (BCH), a bitcoin offshoot, has successfully passed a stress test recently which led to a peak in transactions and also received some compliments from big names in the cryptocurrency world.
The stress test, launched on September 1, was a community-driven initiation to prove BCH blockchain’s scalability and capacity. Data from BitInfoCharts shows that the BCH network processed over 2.1 million transactions during the first test day. Amazingly, despite the surge in transactions, BCH’s average transaction fees have not increased, seeing a slight decline from $0.002 to $0.0017.
Following the successful completion of the stress tesst, BCH’s value rose from Satuday’s opening price of $543.96 to as high as $653.69 on September 2, according to data from coinmarketcap.
Jameson Lopp, a famous cryptocurrency software engineer, said on his twitter that the test “ succeeded in breaking various transaction and mempool visualizers.”
Similarly, Jiang Zhuoer, the founder of the world’s third-largest bitcoin mining pool BTC.Top, spoke highly of BCH’s fast transactions in this stress test on his Weibo, China’s Twitter-like platform.
“ BCH’s 32MB blocks have been filled with 4M transactions, and BCH’s transaction volume per second is more than 6 times larger than Bitcoin network’s,even without blockchain congestion.” Jiang said.
Meanwhile, someone questioned that his mining farm switched all mining capacity to BTC from BCH during the stress test, though Jiang is a staunch proponent for BCH.
Jiang responded that BTC.Top is a “smart pool” which is responsible for balancing the mining revenue between BCH and BTC. Smart pool revers to a minging pool which will switch automatically to mine the most profitable cryptocurrency based on hashrate, mining difficulty and crypto’s trading price.
In early August, Jiang also shared his insight into the the trend of crypto market. He pointed out that the crypto bear market may continue in the second half of 2018, but 2021 or 2022 is likely to see the market turn bullish again. He thought BCH has a chance to become the real bitcoin in 2021.
BCH’s stress test came a few weeks ahead of a potential network of the network.