Two Chinese Companies Control 52% of Bitcoin Network

submitted by MarkoVidrih from (medium.com)

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[–]comments 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (1 child)

good to know...

is it possible for the network to be taken over?

[–]d0zme 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (0 children)

Yeah, in theory: https://en.bitcoin.it/wiki/Majority_attack

[–]magnora7 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

Given the fact that the BTC.com and AntPool pools are part of the Chinese company Bitmain, it turns out that this giant and F2Pool together control 52% of the BTC hashrate.

Interesting. Although I guess in theory if they tried a 51% attack, the miners of that pool could simply leave once they become aware of the fact they're unintentionally supporting a blockchain hijacking attempt. Then it would drop below 51% again and their hijack attempt would fail. In theory.

But this is pretty concerning.

[–]hydr0lyze 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

You know what this means...