Bitcoin Cash is experiencing immense volatility in its hashrate. With the unusual ascend making headlines, BitMEX issued a report analyzing the fluctuations.
The report states that the extraordinarily high level of volatility in the Bitcoin Cash hashrate elevated concerns about specific addresses that were ruling in terms of the percent of blocks won. BitMEX clarified the doubtful air speculating the moves of manipulators and reported, “We were unable to find any evidence of timestamp manipulation or other nefarious mining strategies. Perhaps the apparent cyclicality is caused by lags in automated systems designed to mine the most profitable coins or some other more benign factor.”
It was noted that the time interval between blocks appeared to be more erratic than Bitcoin, with higher peaks and lower dips. However, the graph shows a more regular pattern than random. The research mentions, “This volatility may have made the network marginally less reliable for payments in some periods, although it is not a major issue, in our view.”
Further, concluding the research, BitMEX suggested merged mining, adopting Bitcoin’s two week adjustment period and reducing block times” for the Bitcoin Cash ecosystem.