Bitcoin Cash Just Mined its First Block, Making Blockchain Split Official

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An effort to create an alternative version of the bitcoin blockchain is officially moving ahead.

After running into roadblocks this morning, miners were able to successfully create a block on a new blockchain, called Bitcoin Cash, at roughly 2:14 p.m. ET today. As reported by CoinDesk, the move finds the miners breaking away from the main bitcoin network and forging ahead with an option supported by a different technical roadmap.

The block in question was mined by mining firm ViaBTC, according to a Bitcoin Cash block explorer hosted by data provider BlockDozer. The event came nearly six hours after after block 478,558 – which started the separation.

Network data shows that the Bitcoin Cash block contained 6,985 transactions, with a block size of 1.915 MB – nearly double the block size cap on the original chain.

According to CoinMarketCap, the price of Bitcoin Cash is trading at roughly $219 on digital currency exchange Kraken. The exchange’s top marketplace, for the BTC/BCH trading pair, is reporting more than $3m in volume since launch.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Kraken. 

Toy train image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].

1 CRYPTO

Crypto News & ICO Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

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Ticker

1 BTC = $62694.69 USD  (via Coinbase)
1 ETH = $2420.59 USD  (via Coinbase)
1 LTC = $273.30 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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