AntPool, the second-ideal Bitcoin (BTC) mining pool, mined seven consecutive blocks on Would perhaps perhaps well 17, sparking worries within the cryptocurrency neighborhood about community safety.
This series of blocks confirmed 20,686 transactions, leading to over 23 BTC, valued at roughly $1.54 million in income.
The mining spree came about between block heights 843,898 and 843,904, lasting one hour and 38 minutes.
Big mining pools #AntPool and Foundry #USA now withhold watch over over 50% of Bitcoin’s hash price, raising concerns about potential #centralization and 51% assaults.
This centralization pattern, driven by economies of scale, permits these pools to censor transactions, as viewed with #F2Pool’s… pic.twitter.com/xHQj4TzlcX
— TOBTC (@_TOBTC) Would perhaps perhaps well 17, 2024
Data sourced from mempool.assign unearths that AntPool accumulated 1.283 BTC in fees as well to to 21.875 BTC from the block subsidy.
What adds intrigue to this pattern is the involvement of Foundry USA, a really noteworthy Bitcoin mining pool, which mined the block earlier this sequence and the following two blocks.
AntPool has mined 25.forty eight% of all blocks within the closing seven days, trailing within the again of Foundry USA, which holds 31.12% of the community’s hashrate.
Collectively, both firms preserve a 56.6% mining dominance. In October 2023, Antpool quickly challenged Foundry’s leadership for three days.
This match underscores the inherent dangers linked with centralized mining pools, seriously the susceptibility to assaults equivalent to double-spending and transaction censorship.
Observers worthy that AntPool and Foundry now withhold watch over over 50% of Bitcoin’s hash price, raising concerns about potential centralization and transaction censorship.
“Such energy focus poses an existential possibility to Bitcoin’s decentralized nature and its foundational precept of trustlessness,” TOBTC Shopping and selling LLC posted on social media.
How many blocks in a row except you raise out something about it Anon? pic.twitter.com/H8FAZ1Stp9
— Public Pool (@Public_Pool_BTC) Would perhaps perhaps well 17, 2024
AntPool used to be founded in 2013 by Bitmain Technologies, a illustrious manufacturer of mining hardware.
It’s basically based fully in Beijing.
National safety concerns over crypto mining
The U.S. executive has advised a Chinese-backed cryptocurrency mining company to pause the constructing of a mine in Wyoming.
In accordance with a Would perhaps perhaps well 13 issue signed by President Joe Biden, MineOne Cloud Computing Funding and its companions are mandated to unload the property adjacent to the Francis E. Warren Air Force Impolite in Cheyenne, Wyoming.
MineOne Partners Ltd. is a Chinese-backed cryptocurrency mining company that deliberate to purchase land attain the Francis E. Warren Air Force Impolite in Cheyenne, Wyoming
The issue, issued in collaboration with the U.S. Committee on International Funding within the US (CFIUS), aims to take care of concerns surrounding potential dangers connected to international ownership of land adjacent to sensitive militia installations, particularly in proximity to a nuclear missile noxious like Warren AFB.
The executive issue mandates the divestment of MineOne’s crypto mining facility and the elimination of Chinese-owned equipment from the remark within particular timelines to make certain that compliance and mitigate dangers.
In other experiences, regulators in Norway have proposed fresh legislation geared toward tightening regulations on cryptocurrency mining activities performed by data centers working within the nation.
The fresh law, geared toward regulating data centers, is poised to develop into a pioneering framework in Europe, requiring total registration of data center operators and disclosure of products and providers equipped.
The Norwegian executive, led by Digitalization Minister Karianne Tung and Energy Minister Terje Aasland, emphasizes the must curb initiatives deemed undesirable, particularly singling out cryptocurrency mining attributable to its tall greenhouse gas emissions.
Energy Minister Terje Aasland explicitly mentioned that Norway doesn’t welcome agencies seeking to milk the nation’s energy resources cheaply, aligning with the nation’s environmental needs.
