Dangerous Centralization: An Unknown Organization Controls Almost Half of the Bitcoin Network Hashrate
Date: 2024-05-01 Author: Henry Casey Categories: BUSINESS
Bitcoin mining is becoming the subject of serious concerns due to the discovery of Mononaut, a developer and blockchain analyst, who revealed that one organization controls 47% of the network hashrate.
Scale of Centralization
Experts emphasize that a high level of centralization in Bitcoin mining can lead to serious consequences, especially when large amounts of coins are concentrated in the hands of a limited number of participants.
Taking into account Mononaut data and the conclusions of BitMEX experts, Bitcoin mining faces a real threat of centralization, requiring immediate intervention and consideration of possible solutions to the problem.
Risk and Safety
BitMEX researchers point out the need to balance risks and focus on the safe operation of mining pools to avoid possible crises and damage to the Bitcoin network.
Given upcoming events, including the post-halving coin sell-off and possible implications for market dynamics, analysts are cautious and call for attention to the actions of miners and the impact of their decisions on the cryptocurrency landscape.
