Bitcoin Cash Activity seems to be going down since it only carries a few transactions per day, more specifically ten times lower than BTC. As per the latest news on altcoin, we can see that the altcoin has almost empty blocks which are a reason why the transaction volume is low as well.
At some points, the entire Bitcoin cash activity slumps and the asset counts even fewer transactions than Litecoin and Dogecoin. When tests or dust attacks don’t happen often, the network is relatively idle. The low transaction activity is even more ridiculous as Bitcoin Cash aims at on-chain scaling by the increasing block size and the potential for the huge blocks means that there is a hard propagation among the nodes. Some of the blocks depart empty of transactions and others only carry up to five transactions.
The blocks are usually able to carry up to 100-200 transactions and this could be the reason why a block has left mostly empty since the miners have reserved the block for the high-gee transactions. Over the years, the Bitcoin Cash network mined blocks that could only contain a single transaction for the block reward. Recently it was brought to the daylight that only Bitcoin and Ethereum networks see some significant daily gains from the fees. The dollar value of the fees reached $200,000 per day and some of the other networks had much lower rewards from the fees mostly because of the limited usage and no urgent transactions.
The Bitcoin Cash network almost never gets congested as the current load remains low. In the future, most of the proof-of-work blockchains will earn more from the transaction fees than from the block rewards. If no one uses the network, the miners will have to decide to move away from their expensive equipment. In the past, the bitcoin cash network was ‘’strip-mined’’ which means there were very fast blocks which gained rewards during favorable periods. This is also one of the reasons why there are now 18,025,813 BCH generated. The transaction counts are uneven and usually, these transactions will grow upon the extraordinary events such as the protocols that use the network without generating economic value.
The cryptocurrency news today has shown us that BCH’s price also shows weakness and shed more than 31 percent of its price in the past week. BCH traded at $219.
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