Tech

Dan Taylor

BSV miners raking in high rewards per transaction

Miners of Bitcoin SV (BSV) raked in the highest rewards per transaction over the weekend, a snapshot of data captured has revealed. In a comparison with SegWitCoin (BTC) and BCH, BSV miners came out on top in terms of the mining rewards secured, providing a greater incentive to mine BSV than the others.

Users on social media flagged the discrepancy, and questioned when this would encourage more miners to switch to BSV over mining BCH and BTC cryptocurrencies. Twitter user winterwishin posted a screenshot comparing rewards in the past 24 hours for BSV, BCH and BTC, highlighting the higher rewards per transaction on offer for BSV miners.

In the tweet, the user asked how long it would take miners to realize that BSV was the best option: “BSV has the most tx few rewards for miners in the last 24 hrs. This is just the beginning. When will other miners realise?”

In data posted on Twitter, BSV reported some 130 blocks in the last 24 hours, compared to 132 for BCH and 174 for BTC. However, while BTC posted and BCH posted rewards of 1650+0.3825 BCH and 2188+26.58 BTC respectively, BCH edged them out, with rewards of 1625+26.88 BSV over the 24 hour period.

The discrepancy means miners would be better off mining BSV than either of the other options, with higher rewards for those that choose to get behind the cryptocurrency.

Bitcoin SV is the original bitcoin as intended in Satoshi Nakamoto’s whitepaper, offering payments at mass scale with low cost transactions and fast transaction speeds.

Designed to be affordable and efficient for sending payments and powering apps and other services, this is reflected in the lower average transaction value of 2.99 BSV—roughly $439.41, compared to over US$11,000 for BCH and US$16,833 for BTC.

The median transaction value shows an even more accurate picture, at just $1.34 for BSV, compared to $172.13 in the case of BTC.

The news is further incentive for miners to switch their attention to BSV, at a time when the cryptocurrency is increasingly gaining traction as the coin of choice amongst miners, developers and users.

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