Bitcoin Cash network completed a hard fork in order to fix the BCH blockchain’s Difficulty Adjustment Algorithm (DAA).
What does that mean?
In simple terms, it means that the network nodes moved to new software which aims to make mining easier and the reward distribution model more attractive.
Why is it important
While the Bitcoin hard fork is suspended, a smooth upgrade was important for Bitcoin Cash to secure the future growth. Just this Sunday, Bitcoin Cash surged 5x to $2500, but then dropped to $1346.
What can we learn from it
- The update can help Bitcoin Cash to avoid sudden jumps in how difficult it is to get rewards. That was a key reason for users to switch between the Bitcoin and Bitcoin Cash blockchains.
- It gets more interesting to monitor the competition between Bitcoin, Ethereum and Bitcoin Cash.