Bitcoin Cash Is Official — The First Block After Bitcoin Split Has Been Mined

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Short Bytes: Mining pool ViaBTC has officially mined the first Bitcoin Cash block. This event came about six hours after block 478,558. As different wallets and exchanges are supporting Bitcoin Cash, you can place your bets and take some risks. At the time of writing this article, Bitcoin Cash was trading at $502.

Yesterday, we told you about the basics of Bitcoin Cash and how was Bitcoin split going to take place. Well, as a result of the efforts made by Bitcoin Cash adopters, this divergence in Bitcoin blockchain is officially going forward.

For those who don’t know, Bitcoin Cash aims to increase the size of the transaction blocks to 8MB and remove the SegWit2x proposal. According to CoinDesk, the miners were able to create the first block of Bitcoin Cash at about 2:14 PM, ET.

Also Read: 10 Interesting Facts About Bitcoin That You Must Know

It’s not surprising that the block being talked about here was mined by none other than Beijing-based mining pool ViaBTC, which has about 5% of bitcoin’s computing power. Starting yesterday, ViaBTC gave the users an option to mine Bitcoin Cash using Bitcoin ABC, which is an open source fork of Bitcoin Core.

“All in all, the event came nearly six hours after block 478,558 – the point at which miners attempted to start the separation,” according to CoinDesk.

Currently, Bitcoin Cash is trading at $502 and the early trends are indicating further growth. Compared to that, Bitcoin is trading at $2,729.

You can see more details about the first Bitcoin Cash block here at Blockdozer. It shows that the size of the mined block is 1915175 bytes, i.e., about 2 times the size of an original Bitcoin block.

Did you find this story on Bitcoin Cash interesting? Don’t forget to share your views.

Also Read: IBM Squeezes Record 330TB Data In A Tiny Magnetic Tape Catridge
Adarsh Verma

Adarsh Verma

Fossbytes co-founder and an aspiring entrepreneur who keeps a close eye on open source, tech giants, and security. Get in touch with him by sending an email — [email protected]

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