On Sunday two leading crypto currency mining pools Antpool and BTC.com started to provide Bitcoin Cash (TIKER: BCH.EXANTE) mining. It became possible after the network dropped its mining difficulty down to 7 percent Bitcoin.com reports.
BTC.com has already mined its first block — 480002, and very soon it was followed by Antpool having mined its first block too — 480084.
At the price level of $760-790 where Bitcoin Cash has been hovering lately and with fascinating speed of mining when each block is being found every 3-7 minutes Bitcoin Cash network has become 115% more profitable to mine than the Bitcoin (TIKER: BTC.EXANTE) blockchain.
Indeed, as long as the prices of Bitcoin and Bitcoin Cash remain at the present level, miners will be making more than double on Bitcoin Cash what they would on Bitcoin.
After all, the Bitcoin blockchain charges higher fees on transactions — extra 1.5 BTC per block on bitcoin, which makes approx. $6,000. Whereas Bitcoin Cash still can boast very low fees — under $50.