Two Bitcoin mining pools—whose names haven’t been made public—have together grabbed more than 51% of the network’s total mining power, data from August 19 shows. That level of control would let them reorder blocks, block or reverse transactions, or even create fake bitcoin—a risk known as a 51% attack.
It’s the first time in over ten years that any group of pools has held a majority. Back in 2014, GHash.io briefly crossed the line but stepped back after strong industry pushback.
This new concentration has reignited worries about centralization in what’s supposed to be a decentralized system. Critics say sustained majority control could shake confidence in Bitcoin’s ledger and its price, while others argue that the many independent miners behind each pool would ditch any operator that tried to cheat the system.
Reports suggest one of the pools might be AntPool, whose owner Bitmain has ties to Chinese state–affiliated entities, adding a geopolitical dimension. So far, the blockchain shows no signs of tampering, and the pools have stayed silent on their plans.
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#Antpool
#bitmain
#Chinese
