About 24-hours ago bitcoin cash (BCH) miners were processing a ton of large blocks between 2-8MB in size. Fees have remained considerably low, and the bitcoin cash daily transaction volume is nearing the same amount of transactions as the litecoin network.
Bitcoin Cash Miners Are Clearing 8MB Blocks In One Fell Swoop
Bitcoin cash miners have been processing more larger blocks than usual over the past 24-hours, and many of them have been 8MB in size. There have been roughly 34,352 BCH blocks mined since August 1 and BCH is 8,714 blocks ahead of the bitcoin core chain. According to statistical data websites like Johoe’s mempool page, 2-8MB blocks have been clearing the BCH mempool (transaction queue) consistently. Over the past six months, the median BCH transaction (tx) size of 226-bytes costs $0.01-0.02 per tx. Average BCH fees have never exceeded more than 11 cents for median 226 sized transactions.
Skeptics Say No One Uses It But BCH Daily Transaction Volume Is Catching Up With the Litecoin Network
The bitcoin cash community has been excited about mining pools processing larger sized blocks over the past day. Mining pools processing 2-8MB blocks include Antpool, Viabtc, BTC.top, and four other BCH mining operations. Bitcoin cash block intervals have been taking place roughly every 10-20 minutes according to Coin Dance Cash statistics.