RE: BTC QBT16 Feb 2023 23:04
The blockchain company noted that the shift to developing chips for the BCH and BSV mining networks was informed by the fact that it would not cost the company much to adapt its chips to mining BCH and BSV.
Quantum Blockchain reassured investors there would be no additional monetary, opportunity cost, or time diversion from its current R&D work. The company noted that the only difference between the three networks was the number of transactions processed per second (tps).
Bitcoin (BTC) processes about 4 transactions per second, BCH processes about 100 transactions per second, while BSV processes about 50,000 transactions per second.
Therefore, the company believes its improved mining chips would attract BCH and BSV miners. The outstanding amount of BCH, BTC, and BSV remaining to be mined is almost the same at 1.7 million coins for each cryptocurrency.
Quantum blockchain added that despite the significant price difference between Bitcoin at $21,170, BCH at $122.91, and BSV at $44.71. The value of the remaining BCH and BSV coins is worth about $2.9 billion, which makes economic sense for the firm to develop chips for them.
Furthermore, the mining difficulty for BSV and BCH is much lower than that of Bitcoin, making them less capital-intensive and just are rewarding as Bitcoin mining.
Francesco Gardin, Quantum Blockchain’s CEO, commented: “Our main target is and will remain to develop BTC miners. However, the same R&D results can be applied to BCH and BSV by re-training our Machine Learning methods A and B (see announcement dated 15 November 2022), which we believe is a straightforward process.”
Sign In
Follow the stocks
