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Nearly 70% Of BCH Hashrate is Controlled by Unknown Mining Pools, Is A 51% Attack At

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The design of a blockchain is meant to keep any single entity from gaining significant control, allowing any ledger to maintain decentralization. With this type of control, an entire network could be at risk of attack. While the industry largely has managed to maintain balance, an unknown user has managed to gather almost 70% over the Bitcoin Cash hashrate. What’s next?


One of the biggest threats to the cryptocurrency industry is that of a 51% attack, which is the possibility that holding over half of the control of the blockchain. According to recent reports from CCN and data from Coin Dance, it looks like this threat is heavily present on the Bitcoin Cash network, as an unknown miner presently has 69.44% control of the hashrate.


Surprisingly, the miner has managed to take over the hashrate, despite the presence of more significant mining pools, like BTC.top and Antpool. Though BTC.top accounted for close to 15% of the total hashrate on the network last week, that percentage has essentially disappeared. Antpool’s mining presence dropped by 50%.



The takeover got the attention of a supporter of Bitcoin Cash, who posted the current circumstances to Reddit. The post showed followers that the last 24 hours have significantly changed Bitcoin Cash’s network, remarking, “They can’t be up to much good.”
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