Kraken Executive, Dan Hedl says BCH security will be tested after halving – Bitcoin Cash News

Dan Hedl, the Business Development Director at Kraken, and bitcoin supporter said that the next halving of Bitcoin Cash will be a security test for the network. Bitcoin Cash (BCH) is the fourth most valuable coin and a hard fork of Bitcoin.

Bitcoin Cash is scheduled to go through the halving process in May 2020. The halving event will reduce the network rewards by half from 12.5 BCH to 6.25 BCH. Halving happens every 210,000 blocks.

The halving event reduces the inflation of the network. The reduction in reward will force BCH miners to shift their computing power to the Bitcoin (BTC) network, said Dan Hedl. He also predicted that the price of the BCH would slump down considerably.

The migration of miners from BCH to the Bitcoin network will lead to a fall in hashing power in Bitcoin Cash, and that is where the network will be vulnerable to a 51% attack.

The only way to protect this from happening is if the network draws more users, and there is a spike in the network identity. Vitalik Buterin, the co-founder of Ethereum, has proposed the integration of Ethereum in Bitcoin Cash as a short-term solution for their network’s scaling problems.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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