- The eCash hashrate has blasted past that of Bitcoin SV in the past two weeks
- eCash had been trailing Bitcoin SV for all of 2021 but has seen a hashrate explosion this month
- eCash is now mined with twice the power of Bitcoin SV
Any hopes from Bitcoin SV supporters that their coin could keep the newest iteration of Bitcoin Cash, eCash, at bay have been dashed after eCash’s hashrate leapt past Craig Wright’s pet project in the past two weeks. After enjoying a tenfold lead over it in the mining stakes for much of 2021, eCash has seen a spike in hashrate which has led to it not just overtaking Bitcoin SV but being mined twice as much.
eCash Result of Another Bitcoin Cash Fork
eCash is a rebranding of Bitcoin Cash ABC which was formed in November 2020 after Bitcoin Cash experienced its third hard fork following the implementation of the controversial miner tax. This spawned Bitcoin Cash ABC (BCHA), which implemented the miner tax, and Bitcoin Cash Node (BCHN) which did not.
These two would, in theory, exist alongside the original Bitcoin Cash (BCH) and Bitcoin SV (BSV), unless one of the new coins was under-mined and disappeared. Given that BCHN does not appear in any cryptocurrency coin listings or on mining charts it would seem it has, indeed, been deemed the inferior coin.
XEC Hashrate Sees September Explosion
Bitcoin Cash ABC rebranded as eCash (XEC) on July 1, defining itself as the “natural continuation of the Bitcoin Cash project”. Since the November 2020 hard fork the BCHA hashrate had been trickling along at between 0.04 and 0.1 exahashes, typically some 10 times less than Bitcoin SV and 30 times less than the original Bitcoin Cash. However, the last 10 days has seen a surge in the XEC hashrate, taking it from 0.16 exahashes on September 1 to 1.06 exahashes today.
This tenfold increase has taken it above Bitcoin SV which, after having a massive advantage for the past 10 months, now finds itself having half the hashrate of the newer coin. It’s fair to day that the event did not go unnoticed:
What many thought impossible (as XEC is not even a top 200 token) after I saw it coming a while ago, happened anyway just now.
XEC hashrate passed BSV hashrate. Market cap list ranking will follow.
— Arthur van Pelt (@MyLegacyKit) August 28, 2021
inb4 the drones say it’s all about utility
— Ba’al Zaq ⛏️ (@eightyATE) September 6, 2021