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From the day of eleven years ago, bitcoin space was struggling with a large -scale popular mining pool: ghash.io’s balloon hash rate.
Gash, which was owned CEX.io (An exchange is still working today) was widely Agreed The best mining pool in 2014. It had automatic payouts and ultra-loe fees, and it also shared the transaction fee with the entire pool, while the others trembled to keep them for themselves.
The hash was also clear and responsible tooling to track rates and income, and it supported more merge-mining coins than any other pool. Users can also trade the hash rate and mining contracts through CEX.io platform.
A problem: Gash was attracting a lot of miners.
A reddit user wrote, “People behind Gash are mining because Mark Zuckerberg is for social networking.” “If 50% were not worried, they will have more than 90% pools so far.”
Users on Bitcointalk were looking alarm. “Gash is at 48% WTF. It is fucking that serious people get off the Gash.
Discus fish, second most powerful pool Those daysThe total wash was only 11% of the rate.
“Bitcoin Pirates with his DDOS Botnets” is a great name for a punk band.
This was also the second time in six months when Gash’s popularity became an issue. After collecting 42% of the hash rate, the pool released Memorandum Stating that it will ban registration for new miners and will be promised to help its existing users diversify other pools. Many miners excluded Gash, dropping their share of the hash rate to 38% within a day.
So by the time the rate of Ghash was increased by 50% several times a week, five months later, it was up to the bitfarey, which was to take back its pools quite back, began with 1 pH/s (about 1% of the total hash rate), followed by more pethaesh in a period of 72-hour. In the early 2015, the impact of Gash will fade in the next six months, completely closed.
Bitcoin, of course, is optimal when no unit controls even close to half of the hash rate. It does not matter whether it is a mining pool, made of thousands of individual miners, or a multiple dollar mining mining.
At the technical level, the danger to malicious double expenses is evident. In the real world, these types of conditions are more Temporary The branding issue, and ecosystem historically reduced the issue quickly.
The nervousness spread to the mainstream media, which Reflected Concerns from some bitcointock users.
These days, three mining pools completely more than half of the hash rate – foundry, Antopool, Viabtc or F2pool on any day.
Is it better than 2014? Sure. But it can still be better. Alejandro de la torre, CEO and co-founder of pool DMNDIt tells me that this issue is not necessarily a problem of potential collusion; It is that mining pools themselves are constructing bitcoin blocks instead of individual miners within the pool.
“Everything is decentralized except blocks. Suppose the top five players construct more than 80% block.
Da La Tore concerns that such measures are very simple for governments – this means just knocking on the doors of top mining pool operators. “This is a big risk for bitcoin, right now is the biggest risk in bitcoin.”
Similarly, similar to the ocean, the solution of DMND is to decentralize the responsibility of creating a block away from the pool and who really produces the correct hash, which reduces the risk of government intervention. There will be a high probability that every other block will be constructed by a separate minein within the pool, ideally in each separate physical space.
Such efforts can look like competition, even between the pools for the minor mindshere. But it is only on the surface.
Below, miners and pools that they use can only serve a master, bitcoin protocol – whether they are going to be rich.
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