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Blog

Date:
30th Oct 2020
Author:
CryptoAltum Research Team

Bitcoin Unlimited Unveils a Guarantee Service to Attract Bitcoin Cash Miners

A new mining service dubbed the BU Mining Guarantee, has been unveiled by Bitcoin Unlimited to attract Bitcoin Cash miners on its network and therefore help in their decentralization objective. The project aims to decentralize its mining ecosystem on the Bitcoin Cash network. Therefore, miners using the Bitcoin Unlimited software will be compensated should they lose block rewards.


Details: 

Mining is what anchors any Proof-of-Work network and Bitcoin Unlimited is no different. The goal of the Bitcoin Unlimited platform is to ensure complete decentralization of miners and the initiative is part of their overarching mission. There are some concerns that most blockchains are centralized with servers being operated from Alibaba and the Amazon Web service. Needless to say, eventually, those which adhere to blockchain dictates will attract maximum use.


Impact on the BCH Price: 

Neutral to bullish. Ultimately, the guarantee program helps strengthen the Bitcoin Cash network--even balancing its governance, a prospect that’s good for prices and network participants. 


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