Antpool, which is the largest pool in the world for Bitcoin mining, has announced the removal of its mining costs for the next three months. This news is quite incomprehensible when we know that Bitmain (owner of Antpool) and BTC.com already control more than 40% of the computing power of the Bitcoin network.
Antpool and BTC.com belong to the same company, which means the CEO is approaching the critical threshold of 51% computing power.
Antpool removes its mining costs for 3 months
The world’s largest BTC mining pool has just announced on Twitter that it is cutting its mining costs for 3 months. This news is quite unexpected since the two pools of Bitmain (Antpool and BTC.com) are in the process of holding 51% of the total computing power of the Bitcoin network. It could be expected that Antpool will increase its mining costs to reduce the risk of attack on the Bitcoin network.
Rejoignez la communauté Crypto Analyse
Bitmain is close to 51% possession of hashes on the Bitcoin network
Since the beginning of the downtrend, cryptocurrency miners have been investing heavily in hardware and the overall computing power has never been higher.
As you can see, Antpool and BTC.com alone account for 44.2% of the computing power of the Bitcoin network. This is very worrying when you know the risks of a 51% attack on a blockchain. What is more surprising is that Antpool just announced the abolition of mining fees for a period of three months.
According to this news, it is high time to better distribute the mining to avoid this disaster in the largest blockchain in the world. Such a vulnerability would allow a malicious person to make double expenses on the Bitcoin network, which would have an extremely negative impact on its value.
I can not say it enough: The more a blockchain network is decentralized, the more secure it is. The opposite is also true.
Fortunately, we are not there yet and the interest of Bitmain is certainly not to control a part of the network so important that it would become vulnerable. Indeed, it is a safe bet that the mining of Bitcoin is no longer profitable if such a thing happened.
To be kept informed about news and other topics related to mining, you can join us on Telegram