Altcoin News: Unknown Miner Increases Share of Hash Rate in Bitcoin Cash Blockchain

April 29, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The Bitcoin Cash network has seen a surge in the activity of an unknown miner over the past weeks.

A characteristic feature of the activity of this miner is the text of the Coinbase transactions used for crediting rewards for mined blocks, in which he inserts the name of the Bitcoin creator Satoshi Nakamoto.

The share of the unidentified miner in the Bitcoin Cash blockchain reached 39% over the last few days, while at the beginning of the month it was about 10%. Also, an unknown miner has produced more than 44% of the blocks in the cryptocurrency network in the last 24 hours.

Who exactly is behind this activity is not known for certain. Many users agree that unknown miner may be supporter or supporters of Bitcoin SV cryptocurrency, having their own reasons for being in the opposing chain. According to one of the versions, they are driven by the desire to improve their own financial situation against the background of the BSV price reduction. A particularly advantageous scenario for them is the withdrawal of funds from BCH to BSV in order to exert negative pressure on the price of the first and the rise of the second.

According to another version, this is part of a plan aimed at preparing an attack to reorganize the blockchain Bitcoin Cash in order to discredit it. The blockchain of Bitcoin SV has recently been reorganized from six blocks — in its case, the problem was caused, presumably, by the disproportionately large block sizes.

It is not excluded, however, that part of the new computing power belongs to the camp/pool of Bitcoin Cash itself, which in the past has already demonstrated its willingness to allocate resources to protect the network during the so-called “hash wars”.

Author: Marko Vidrih