Over the past year, SHA-256 mining has grown exponentially. This phenomenon is the opposite of the Bitcoin market valuation that has continued to decline since the end of 2017. Instead of following price declines, interest in Bitcoin mining with the SHA-256 algorithm is growing rapidly.
SHA-256 is a process used to find blocks on the Bitcoin Cash (BCH) and Bitcoin Core (BTC) networks along with many other crypto money. The SHA-256 mining algorithm and other mining operations involve the process of computing devices that verify and compile the Blockchain transaction, in addition to solving computational problems to find blocks. The miner who finds the block will get a new crypto coin that is printed and all costs associated with the transaction on the block. This incentive system has grown significantly and competitively.
The Bitcoin Cash Network Increases Fourfold
When this news was written, the Bitcoin Cash network was around 4.13 exahash per second. There are already more than 65,000 BCH blocks mined since August 1, 2017, with more chains (6,600 blocks) than the Bitcoin Core (BTC) chain.
The amount of Bitcoin Cash mining has increased rapidly within a year. In the first week of August 2017, there were only a few mining pools (Mining Pool) that processed BCH blocks such as Viabtc, Bitcoin.com, unknown miners from Hong Kong, and several other miners. A few weeks later, many other miners joined the BCH network such as Bitclub, Antpool, Batpool, and BTC.com, thus increasing the BCH hashpower to around 2 exams.
Now, BCH is one of the most popular crypto networks among miners. There are around 13 different mining pools including Coingeek, BMG Ponds, Rawpool, BTC.com, Viabtc, Antpool, Bitcoin.com, BTC.top, Sbi Crypto, F2pool, Huobi, and several other pools that are unknown.
Mining power has shifted hands since twelve months ago, when unknown miners and Viabtc had most of the hashrate BCH. Currently, there are two to three anonymous mines (can be distinguished based on Coinbase data) which have about 20 percent of BCH hashpower. The BCH miners include BMG Pool (10%), Rawpool (9.8%), BTC.com (8%), Viabtc (6.7%), and Antpool (6.5%). Meanwhile, other pools such as F2pool and GMO Group have mined the BCH chain several times over the past year. Overall, from the first week of August 2017 to the present, the BCH hashrate has increased fourfold
Bitcoin Core Hashrate Rises to 48 Exahash Per Second
In the second week of August 2017, the BTC hashrate is only around 8-6 exahash per second. But now, the Bitcoin Core has increased 500 percent to around 48.2 exahash per second. Distribution of BTC mining hashrate has changed since last year. When this news was written, there were about 16 different Bitcoin mining pools, there were even anonymous miners who processed 13.3 percent of the BTC network.
The largest holder of BTC hashrate currently is BTC.com (16.6%), followed by Antpool mining pool (14.6%), anonymous (13.3%), BTC.top (12.3%), and Slush Pool (11%).
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