Bitcoin Cash Experiences Difficulties Processing Transactions, Tweets Bitmex

Roger Ver led Bitcoin cash network experienced difficulties processing transactions in the course of a planned hard fork update. The development is reported by digital asset exchange BitMEX in a tweet on May 15.

The BCH network supposedly began to experience issues with transactions, subsequent to the expected fork at block 582,680.

Cryptocurrency and digital asset exchange BitMEX mentioned that the number of transactions per block was low.

As per the data from CoinDance, the greatest number of blocks mined after the upgrade was only processing transactions on renowned crypto exchange Coinbase. Meanwhile, BitMEX divulged that their mempool had one thousand six hundred and twenty-two transactions.

It is to be noted that the developers seem to have released a patch to fix the bug, following comments from the community regarding empty blocks.

BitMEX’s node, at the time, purportedly followed the chain on the left until block 578,642, which further leaped to the right. In about an hour the chain supposedly moved back to the left side.

Notably, news broke lately, that a single address was responsible for more than half of the BCH transactions in the preceding month. Furthermore, the ambiguous account had made more than 587k transactions since it became operational on April 8 of this year.

At the time of reporting, bitcoin cash is the fourth largest virtual asset in terms of market cap on CoinMarketCap. The cryptocurrency is presently trading at around $396.4, having gained 4.02% over the past twenty-four hours.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin7,241.27 0.96 % 8.57 % 14.09 %
Ethereum241.35 1.84 % 5.76 % 38.55 %
XRP0.382 1.47 % 8.64 % 26.68 %
Litecoin88.56 0.38 % 7.51 % 15.71 %
Bitcoin Cash360.48 1.22 % 10.20 % 25.08 %