Bitmain will soon control most of Hasrat Bitcoin
Source:Bitmain mined 42 percent of all blocks of Bitcoin last week, reports . The company is steadily approaching a critical point. Soon the Chinese will be able to control 51 percent Hasrat network of cryptocurrency.
theMonopoly on the extraction of crypts
One of the largest manufacturers of ASIC miners Bitmain has recently reported the successful production of 42 percent of all blocks of Bitcoin over the past week. Pools BTC.com and AntPool control 26.6 and 15.3 percent Hasrat network, respectively. Recall that in 2017, the representatives of Bitmain announced record profits for the 12 months, the company earned about $ 3.5 billion.
Bitmain is still the leader of kryptonyte. The Corporation produces asik, and uses its products for mining cryptocurrency. Monopoly on the mining of bitcoins of analysts for a long time. However, the head Bitmain Jihan Wu strongly the activities of the company.
Some of the resources of the manufacturer of Asimov aimed at mining of Bitcoin Cash. Theoretically, if the power swung to the Bitcoin, Bitmain would be able to control 45 percent Hasrat. It is very close to the critical rate of 51 percent. If the company will get the greater part of the network will be able to attack 51.
The Mention of the number 51 has many cryptoexpert to fidget nervously in his chair. Attack 51 associated with the loss of confidence in the cryptocurrency and decentralization. What happens when Bitmain finally reach this point?
thethe Reverse side Bitmain
First, this problem had arisen before. In 2014, GHash has already crossed the threshold of 51 percent, thereby creating many causes for disputes in the community. Then Ghash offered by the miners move to other pools so as not to create prerequisites for centralization.
In the case of Bitmain such tactics may not work – Ghash was not a large company, but small by today's standards Association of miners. Manual Bitmain is unlikely to take the decision to launch a full attack 51, as this would jeopardize their business. The great danger lies in the fact that some third party could hypothetically take over the capacity of the company to perform an attack.
Another solution is to modify the algorithm Proof of Work Bitcoin. This will create some problems with the consensus principle and in General may lead to undesirable consequences.
A Similar story has happened with Monero. After hard forks of the coin, the community was divided into two camps with different points of view regarding the PoW algorithm.
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
Study: a fifth of Russians prefer hidden mining Intrusive advertising
In mid-June, the Japanese police first ever case of a hidden mining Monero using the algorithm Coinhive. The program uses the power of the computers of users who clicked on a banner on the website. Russian users are covert minin...
In late may, we on best selection of stickers for users of the Telegram, which are love tokens, ICO and volatility. Then their total number exceeded 30 units. The celebration continues — Pak has received six new characters. the La...
John McAfee: Bitcoin is growing even in a bear market
Millionaire John McAfee once again encourages his Twitter followers. McAfee remains optimistic and cites the evidence of an overall picture of the price movements of the cryptocurrency. It is reported . the Bitcoin is still growin...
For mining cryptocurrency in Ukraine do not need a license
Mining companies in Ukraine are not obliged to formalize their activities, reports . The total turnover of mining in the country has reached $ 100 million. Moreover, Ukraine remains one of the most attractive countries in Europe f...
last week, the regulator EOS Core Arbitration Forum (ECAF) blocked 7 accounts of participants maninita coins on suspicion of stealing the funds and the organization of hacker attacks. It was created by the EOS community to detect ...
Co-founder of Ethereum: crypto-currencies the future is bright
Yesterday, the Bitcoin exchange rate below the psychological mark of 6 thousand dollars per coin. Analysts believe that the first crypto currency could fall even lower — to 5 thousand dollars, after which growth will begin. One o...
Kim Dotcom: bitcoin would benefit from a trade war, the United States with the world
this week Donald trump has declared a trade war on China, Canada, Europe and Russia. The President of the United States has imposed duties on imports of aluminum and steel, as well as hundreds of other types of goods. In response,...
the Main event of the last seven days — sharp drop in cryptocurrency market in the second half of the week. Coins are not recovered until now. Today noon for one bitcoin gave 5858 dollars for the air — $ 440, but for litecoin offe...
Can Bitcoin drop to $ 2500? Analysts ' opinions
At the moment, the attention of traders and investors is chained to the main cryptocurrency. It seems that Bitcoin was unable to hold a key support level and continues to decline. It is reported . the the exchange Rate of ...
CEO of Coinage: the stock market need to get rid of the influence of Bitcoin
Bitcoin is king of crypto-currencies, almost every altcon depends on its value. CEO Chad Coinage Pankevich believes that the stock market should move on without affecting the main cryptocurrency. The only way altcoins will be able...
Tron Foundation burn a billion coins TRX in honor of the transition to a private blockchain
independence Day Tron is near – tomorrow Tron Foundation burn a billion coins in the amount of $ 50 million. The event will be one of the largest burns cryptocurrency in honour of the migration on your blockchain. It is reported ....
Bahamas will develop a national cryptocurrency
the Central Bank of the Bahamas plans to release a cryptocurrency secured by the state. The idea of creating a national digital asset was made by the Minister of Finance of the Bahamas, Peter Carquest. It is reported . the a New c...
The Telegram wound up bot that promises free bitcoins and steals users ' data
Cryptomount actively fights scammers, fake accounts of celebrities on Twitter and offer to give the coins. For «check wallet» scammers ask you to send them some coins. Now they invented a new way of earning on Hodler. A...
Bitcoin has fallen below 6 thousand dollars. Expert opinion
Yesterday, President Blue Line Futures bill Baruch said that reducing the volatility of Bitcoin to 60 percent of the imminent beginning of the process of accumulation of coins, or accumulation value. I hope it starts soon — on Jun...
Todd Gordon: Bitcoin will rise to $ 10,000 by year-end
the Founder TradingAnalysis.com predicts the fall of Bitcoin up to $ 4,000. However, by the end of 2018, the cryptocurrency needs to overcome the mark of 10 000 dollars and start a new bullish trend. According to the expert result...
Twitch launched a game of Pokemon using the blockchain
developed by Joan Almeida have created the game Pokemon network-based Lightning Network, reports . The principle of the game involves stream via Twitch. Something similar can be seen in the Twitch Plays Pokemon. How to catch pokém...
Japanese court began civil rehabilitation, Mt.Gox. Creditors will receive payments in bitcoins
the Court of Tokyo has launched a procedure of civil rehabilitation exchange Mt.Gox. This means that the Trustee, Nobuaki Kobayashi will no longer sell Bitcoins with wallets trading platform, and traders can expect a payment of co...
South Korean traders are increasingly using shopping bots. What does this mean for the market?
Shopping bots are playing an increasingly important role in the cryptocurrency market. This is especially noticeable on the South Korean stock exchanges, the volume of daily transactions at which much higher. than Japan and China....
Bitcoin fell by almost 10 percent due to the financial regulator of Japan
Yesterday the price of Bitcoin fell nearly 9 percent after the Japanese financial regulator. The organization has ordered multiple exchanges to improve preventive measures against money laundering. It is reported. the Bitcoin fell...
The silence ended: Monaco spoke about the finished app wallet. Waiting for the crypto card Visa?
the End of last summer was memorable for the tough news. The developers of Monaco for the order of the crypto cards. In addition, sources reported on their cooperation with Visa, which coins from the card would allegedly to pay fo...
Comments (0)
This article has no comment, be the first!