Bitcoin Cash Mining Difficulty Drops Significantly – Speeding Up The Chain

On Sunday, August 20, the Bitcoin Cash (BCH) network dropped its mining difficulty another notch down to 7 percent of BTC’s difficulty, on block 479808. Since then another mining pool has joined in on processing blocks on the BCH chain as the mining pool BTC.com has found its first block on the network.
The game theory for miners begins to get more interesting as the BCH network has become 115 percent more profitable to mine than the Bitcoin blockchain. This is due to the digital currency’s price which is hovering between the $760-790 range and because of the difficulty drop down to 7 percent of the Bitcoin network’s difficulty. Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. BCH average hashrate per day has spiked significantly over the past four days to roughly 10 percent of the Bitcoin network’s seven exahash.

The mystery miner is now capturing fewer blocks over the past few days as other mining pools have picked up the pace. Mining pools like pool.Bitcoin.com, Bitclub, and Viabtc especially have been processing a lot more blocks recently, spreading out hashrate distribution. Viabtc has mined over 27 percent of the last 144 BCH blocks found, and the mystery miner now has only 68 percent. So far since the fork 1507 blocks have been mined and the fork is currently 1349 blocks behind the BTC chain. However, at the current speed of processing blocks and with the BCH network difficulty so low the chain should start to catch up.