Flutterby™! : "Decentralized", my ass

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"Decentralized", my ass

2020-02-03 18:57:08.654053+00 by Dan Lyke 0 comments

Bitcoin’s Network Operations Are Controlled by Five Companies. Five mining entities control 49.9% of the computing power on the network.

The five mining entities -- AntPool, BTC.com, BTC.top, F2 Pool and ViaBTC -- are available via BitDeer, which lets consumers rent mining power without buying or setting up crypto mining hardware. BitDeer acts effectively as the connective tissue between the five mining pools, each of which allows individual miners to pull their resources and to share the freshly minted Bitcoins that serve as rewards. Problem is, a miner with more than 50% of hash power can potentially wreck havoc on the network, raising the likelihood of double-counted coins, stopped payments and stalled transactions.”

[ related topics: broadband Current Events Consumerism and advertising Cryptography Currency Databases ]

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