Bitcoin Cash(BCH) has been in the crypto market from August 2017, It was a result of Bitcoin Hard Fork. However, it is not widely accepted as Bitcoin or altcoins like ETH or XRP. Nowadays, the BCH network has come into notice again as its Halving news has resurfaced. Bitcoin Cash Halving is estimated to occur in May 2020.
What is Bitcoin Cash Halving?
It is the event where the number of generated Bitcoin Cash rewards per block will be divided by 2. The total number of Bitcoin Cash mined by miners per block will reduce from 12.5 to 6.25 BTC.
Why Bitcoin Cash Halving is Important?
The Halving is about to occur in less than 160 days. The general estimation is that Bitcoin Cash prices will increase after halving as the amount of minted coins decreases. However, traders can expect volatility during this period while miners will earn lower mining rewards.
Views of the Crypto World
Director of BD at the Kraken exchange, Dan Hedl said that Bitcoin Cash Halvening will be catastrophic for Bcash. Also, the attack rate on BCH is estimated to increase by 51%.
That doesn’t sound like a bad business model but as new mining machines enter the game, so the game gets harder. In other words, the halving could just make an existing problem worse. However, as a Hodler, the Halving would be deemed as beneficial.