On April 8, 2025, at 8:19 PM, Bitcoin Cash (BCH) underwent its first-ever halving—marking a historic milestone for the cryptocurrency and the broader blockchain community. As the closest "relative" to Bitcoin (BTC) in terms of origin and design philosophy, BCH’s halving offered early insights into what might unfold during Bitcoin’s upcoming third halving. Would reduced block rewards drive price increases? Could this event reinvigorate a sluggish crypto market?
The data speaks for itself: BCH’s price surged from $251 to nearly $280—a gain of 11.55%—on the day of the halving. Even in the following days, it maintained a solid 4.2% increase. Meanwhile, mining dynamics shifted significantly. AntPool, the largest BCH mining pool, saw a 35% drop in hashrate, with reports indicating a corresponding rise in BTC network hashrate—suggesting miners were reallocating resources toward Bitcoin as block rewards diminished on the BCH chain.
Amid this pivotal moment, Wu Jihan, a central figure in the BCH ecosystem and co-founder of Bitmain, joined a global live-streamed discussion to reflect on the event. He shared his thoughts on the halving, decentralized finance (DeFi), the impact of global events like the pandemic, and BCH’s long-term vision as digital cash.
Below is a refined and SEO-optimized summary of Wu Jihan’s key insights from that night—structured for clarity, engagement, and search visibility.
The Significance of BCH’s First Halving
👉 Discover how halving events shape crypto economies and what they mean for investors.
Wu Jihan opened by expressing excitement: “Tonight is thrilling. This is BCH’s first halving since its inception—a major milestone.” He emphasized that despite years of controversy and fragmentation within the Bitcoin community, BCH had proven resilient. “People once feared crises. But BCH has run smoothly, consistently.”
He reiterated BCH’s core mission: to serve as global peer-to-peer electronic cash. Unlike some blockchains focused on smart contracts or speculative assets, BCH prioritizes fast, low-cost transactions accessible to everyday users worldwide.
“The greatest strength of BCH,” Wu said, “is its passionate, global community—all working toward building a decentralized payment system that enables real economic activity.”
Progress Through Scalability
Wu highlighted ongoing improvements in transaction throughput (TPS) and protocol stability. “We’re not making empty claims. Real applications are thriving on BCH: games, payment networks, reading platforms, token issuance tools, and more.”
He pointed out that while attention often centers on hype cycles, sustainable growth comes from utility. “BCH is ready for the next wave of crypto adoption. When users enter the space—not just to speculate but to transact—they’ll find a robust, scalable network waiting.”
Where Will BCH’s Next Users Come From?
User acquisition remains critical for long-term success. Wu believes new users will arrive through curiosity-driven exploration. “Many people have heard of ‘cryptocurrency’ but don’t understand it. They’ll download wallets, buy small amounts, and experiment.”
During bull markets, this curiosity intensifies—bringing in investors, speculators, and developers alike. But Wu cautioned: “Every bubble bursts every 3–4 years. The real question is: What remains after the hype fades?”
His answer? Applications and utility. “BCH has a stronger chance than most to retain users post-bubble because it focuses on real use cases—payments, micropayments, cross-border transfers.”
He envisions a flywheel effect: more users → more applications → more adoption → stronger network effects.
DeFi on BCH: Innovation Without Disruption
Decentralized Finance (DeFi) has become one of the most transformative trends in blockchain. When asked about DeFi’s role in the BCH ecosystem, Wu acknowledged its importance: “Blockchain was DeFi from day one—it created a decentralized monetary system. Now we’re expanding into lending, borrowing, interest-bearing savings.”
With an estimated 40–50 million crypto users globally, he sees massive potential for decentralized financial services.
However, when pressed on whether BCH should aggressively update its protocol to support advanced DeFi features like smart contracts, Wu responded cautiously: “Radical protocol changes create conflict. We’ve seen how hard forks divide communities.”
Instead, he advocates for evolution over revolution:
- Focus on core strengths: low fees, high throughput
- Build DeFi-compatible layers on top of the base protocol
- Avoid contentious upgrades that risk decentralization
“We don’t need to reinvent the wheel,” he said. “We can develop smart contract capabilities gradually—things the community accepts—without sacrificing stability or consensus.”
His message was clear: Sustainable innovation comes from collaboration, not confrontation.
👉 Explore how next-gen blockchain platforms are balancing innovation with stability.
Pandemic Impact: Crisis and Opportunity
The global health crisis had reshaped economies and digital behaviors. Wu observed that remote work had accelerated tech adoption—but also warned of limits: “Only 10–20% of people can work effectively from home. Most economic activity still happens in offices and factories.”
Still, he sees long-term benefits for crypto: “Central banks are printing money like never before. Once created, this excess supply can’t easily be withdrawn. That fuels demand for inflation-resistant assets.”
In this context, cryptocurrencies emerge as digital hard assets—a modern “safe haven.”
- Dollar depreciation boosts interest in alternatives
- People in high-inflation countries turn to Bitcoin and stablecoins
- BCH stands ready as a low-cost transaction layer
“If the pandemic spirals out of control,” he conceded, “crypto won’t be immune. Financial activity depends on real-world productivity.” But under controlled conditions, he believes digital assets will thrive.
Stablecoins and Financial Stability
When asked about currency volatility—citing Venezuela’s reliance on USD and BTC over the collapsing bolívar—Wu gave a direct reply: “You’ve already answered it yourself: stablecoins solve this problem.”
Today, only about 50 million people use stablecoins regularly. But if that grows to 500 million? “Transaction volume could increase 100-fold—because volume scales with the square of users.”
He praised existing efforts on BCH:
- USDH, a native stablecoin
- Integration with platforms like Bitcoin.com and Electron Cash
And he extended an open invitation: “If USDT wants to launch on BCH, we welcome it. Interoperability between stablecoins benefits everyone.”
More importantly: “Users transacting with stablecoins on BCH are BCH users. Even if they hold USD-pegged tokens, they rely on BCH’s network for speed and affordability.”
This synergy creates a win-win: stable value + efficient settlement.
Frequently Asked Questions (FAQ)
Q: What is the significance of the BCH halving?
A: It marks the first reduction in block rewards since BCH’s creation—a test of network resilience and a signal to miners and investors about long-term scarcity.
Q: Did the halving affect BCH’s price?
A: Yes. On halving day, BCH rose from $251 to nearly $280—an 11.55% increase—with sustained gains afterward.
Q: How does Wu Jihan view DeFi development on BCH?
A: He supports DeFi but opposes radical protocol changes. Instead, he favors building compatible solutions without fracturing community consensus.
Q: Can BCH compete with Ethereum in DeFi?
A: Not directly—but it can offer cheaper transactions and stability-focused use cases, especially for payments and stablecoin settlements.
Q: Why focus on electronic cash instead of smart contracts?
A: Because reliable, fast, cheap payments are foundational. Without them, higher-layer applications struggle to scale.
Q: How might global crises affect crypto adoption?
A: Economic instability drives interest in censorship-resistant, inflation-proof assets—making cryptocurrencies more relevant than ever.
Final Thoughts: A Vision Built to Last
Wu Jihan’s message was consistent throughout: focus on fundamentals, serve real users, grow sustainably.
While other projects chase trends, BCH continues refining its original purpose—digital cash for the world. Its halving wasn’t just a technical event; it was proof of endurance.
As new users enter crypto—not just traders but workers, entrepreneurs, and underserved populations—networks like BCH may play an increasingly vital role in enabling inclusive financial access.
👉 Stay ahead of market shifts and learn how blockchain is redefining money.
The future isn’t built overnight. But with each block mined and each transaction confirmed, BCH moves closer to its vision—one payment at a time.
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