Topic: Bitmain will burn 12% of Bitcoin Cash mining Commission (Read 126 times)

On Friday, April 20, Bitmain, a major Chinese manufacturer of mining equipment and software, announced Its intention to remove part of the Commission they receive for mining Bitcoin Cash blocks to keep the economic component of this network healthy.

AntPool, the mining pool of this company, plans to burn 12% of all commissions received from the mining of Bitcoin Cash blocks, by sending to special addresses for burning, from where no one will be able to withdraw, not to spend.

Company goal
Bitcoin Cash "is at a turning point and should become a widely used public blockchain", the destruction of the share of its commissions will strengthen the internal economy of the network and more effectively "profit from the growth of BCH", assures us Bitmain.

"For the ecosystem, it is important that some users actively spend BCH, while others keep them, and this meets the basic requirements for maintaining a strong economy. Without these keepers of the exchange rate of the BCH would lose significant support. We believe that they should also benefit from the growth of BCH, as they are constantly contributing to the Bitcoin cash ecosystem. Commissions for transactions received by miners is an important indicator of the growth of the BCH ecosystem, and if a part of them is burned, it means that in the end miners share their income with the entire BCH network," the company said in a statement.

It is assumed that a decrease in the total volume of BCH reserves can make the coin more valuable by reducing the pressure on its value.

Who supported this idea
Cihan Wu, CEO Bitmain, who supported this initiative, as well as other supporters of burning part of the Commission, are in favor of the fact that, probably, Satoshi Nakamoto represented cryptocurrency, not as a means of saving, but as a currency that is in active circulation.

Mining Of Bitcoin Cash
This week AntPool was nominee 7.3% of all units, and another 10% of them in recent days.
Bitmain calls on other pools to join the destruction of 12% Commission for blocks mined, thereby combining the entire network of BCH one economic policy.
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