Bitcoin's infrastructure is concentrated in the hands of a handful of companies, thereby raising alarm bells about the security and viability of the network considered decentralized, Bloomberg reported.
As competition increases, many smaller companies cannot profit and get kicked out of the game, while larger companies jump in with partner contracts in many other forms. together.
As a result, 5 cryptocurrency mining companies, all based in China, control 49.9% of the entire computing power of the Bitcoin network, the highest concentration level ever. To date, a new analysis of TokenAnalyst shows.
Through BitDeer, 5 mining companies (AntPool, BTC.com, BTC.top, F2 Pool and ViaBTC are now renting the ability to mine cryptocurrencies without having to buy them. or set up dedicated hardware to mine cryptocurrency.
BitDeer acts as an effective link between these 5 mining companies, each allowing individual miners to share resources and share Bitcoin rewards after successful algorithmic algorithms.
The problem here is that a miner with more than 50% of the hash ability can wreak havoc on Bitcoin's decentralized network, increasing the likelihood of duplication, thus disrupting the payment and delivery process. Translate.
The attraction of Bitcoin is always the decentralization of power, not depending on the government or intermediary bank. However, in recent years, the majority of cryptocurrency trading seems to be dominated by a few major exchanges. Currently, the operation of the Bitcoin network also becomes much more centralized than before.