RATE Group | Analyst Is ‘Surprised’ There Hasn’t Been a Large-Scale Attack on Bitcoin Cash Yet
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Analyst Is ‘Surprised’ There Hasn’t Been a Large-Scale Attack on Bitcoin Cash Yet

25 May Analyst Is ‘Surprised’ There Hasn’t Been a Large-Scale Attack on Bitcoin Cash Yet

Posted at 18:56h in Bitcoin News by

Yassine Elmandjra, a crypto asset analyst at ARK Invest, said in a May 24 tweet that the Bitcoin Cash (BCH) hashrate fell by 30% since its halving event, and only accounts for about 2% of the SHA-256 hashrate. Elmandjra now thinks it’s only a question of time before somebody takes advantage of the network:

“Surprised we haven’t seen a large scale attack yet.”

According to data from BitInfoCharts, the Bitcoin Cash average daily hashrate fell by nearly 25.6% since its April 8 halving. Still, Elmandjra presumably did his calculations based on May 23 data, where the hashrate was down by about 33.52%. It is worth noting that the hashrate is currently much higher than where it initially was, after falling by over 61%.

As Cointelegraph reported earlier this month, Bitcoin’s hashrate has shed around 25%-40%, new blocks are generated remarkably slowly speed and fees significantly higher since the halving.

Hayden Otto is a Bitcoin Cash event organizer and founder of BitcoinBCH, a…

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