Bitcoin Cash Network Experiences Halving, Miner Rewards Reduced
The Bitcoin Cash (BCH) network has recently undergone its halving event at block height 840,000.
This resulted in a decrease in miner rewards from 6.25 coins per block to 3.125 coins.
Leading up to the halving, there was a noticeable surge in the network’s hashrate, reaching over 8 exahash per second (EH/s) on April 1. As of April 3, the hashrate has stabilized around 3.78 EH/s, following the event.
In conjunction with the halving, BCH is gearing up for a mid-May upgrade aimed at implementing an adaptive block size limit algorithm. This enhancement will dynamically adjust the block size based on recent block sizes to mitigate spam attacks and reduce costs. The upgrade will maintain the current 32 megabyte (MB) block size limit as a base, with potential increases to accommodate transaction volumes.
READ MORE: Ethereum Developer Addresses Core Challenges Amid Community Criticisms
This upgrade aims to minimally disrupt the network’s incentives and operations by transitioning from manual to automated block size adjustments, enhancing responsiveness. BCH has seen significant growth in value, with a 357% increase over the past year and a 42% surge in the last two weeks. However, it experienced an 8.2% decline against the U.S. dollar in the past 24 hours.
Coinbase Derivatives has announced plans to introduce futures for BCH and other cryptocurrencies. The halving event, discovered by the mining pool Viabtc at block 840,000, saw a block reward of 3.125 BCH with 11,905 transactions.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
