TokenAnalyst Experts Discover Dangerous Centralization of Computing Power for the Bitcoin Network — 5Chinese mining pools control almost 50% of the hashrate.
The researchers were able to identify 95% of the addresses receiving rewards for the mined block, which meansAs a result, they were able to draw up a scheme for the distribution of the hashrate on the network.
It turned out that as of January 27, 2020, 5 Chinese-based pools - BTC.com, AntPool, F2Pool, BTC.top and ViaBTC - provide 49.9% of the computing power of the bitcoin network.
Moreover, they are all interconnected throughBirDeer platform, which enables consumers to rent mining capacities, without the need to purchase and configure equipment. BirDeer is partnering with the manufacturer of ASIC miners Bitmain.
BitDeer Partnership Model. TokenAnalyst source.
"Once a consumer has paid BirDeer for a data plan, the platform canassign this hashrate to any of the partner pools.Does it really matter?merge these businesses into one large entity that maintains a certain degree of separation only through the address structure?"- the report says.
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TokenAnalyst specialists also noticed that the mining pools 1THash & 58Coin and BTC.top are most likely controlled by the same people or companies.
«Any centralization of the Bitcoin network hashrate should be a concern because it destroys the network model, which loses trust».- the experts emphasized.
Recall, according to CoinShares, miners based in China control 66% of the processing power of the bitcoin network.
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