DirectPool Aims To Prevent 51% Attack with Community-First Mining Pool Approach
There's no shortage of mining pools in the digital currency community, but a new mining pool named DirectPool has just launched with a notable mission to give back to the bitcoin community and redistribute the network's computing power. DirectPool bills itself as being a "next-generation mining pool", with its focus on preventing any one existing pool from gaining more than 50% of the network's hashing power. DirectPool hopes to work with miners and industry leaders alike to actively contribute to the stable growth of the bitcoin community. Josh Harris, DirectPool's Media Director, spoke....
Related News
Directpool.net officially launched a Bitcoin Mining Pool. Its goal is to prevent any future 51% attacks on the bitcoin network by redistributing the total network's hashing power. Directpool comes in as the next generation mining pool to further redistribute total network hashrate while giving back to the Bitcoin community. New York, NY (PRWEB) March 18, 2014. The Bitcoin community raised concerns about a pool reaching the 51% network hashpower. That pool can potentially control double-spend transactions, affect confirmations and prevent miners from mining valid blocks. Satoshi himself was....
Bitcoin miners around the world are starting to leave the Ghash.io bitcoin pool following a significant increase in the pool's hash share. According to Blockchain.info, Ghash.io accounted for more than 42% of bitcoin mining power a day ago, but over the past 24 hours its share has dropped to 38%. The fact that a single pool has such a high share has prompted some bitcoin miners to voice their concerns on social media and the mining community is starting to take notice. If a single entity ends up controlling more than 50% of the network's computing power, it could - theoretically - wreak....
Litecoin miners are being urged to leave the Coinotron mining pool due to an increase in its hash rate, which has been edging toward 51% of the network's total. Despite warnings from the litecoin community across forums like reddit, the pool briefly crossed the 50% mark this week - leaving the litecoin network vulnerable to a so-called '51% attack'. A 51% attack allows an attacker to make double-spend transactions, reverse transactions, prevent confirmations and corrupt the network. The total hash rate of the litecoin network stands at 212.947 GH/s and Coinotron's hash rate peaked at 115....
This is a press release by Ghash. IO and does not represent our views. Read our earlier post about the situation here: WARNING: GHASH. IO IS NEARING 51% - LEAVE THE POOL. Bitcoin mining pool GHash. IO is preventing accumulation of 51% of all hashing power. GHash. IO, the worlds largest and most powerful mining pool, has entered 2014 with overall hashing power of over 40%, making it the #1 pool currently in the Bitcoin network. The pool has gained significant hashing power due to the 0% pool fee, merged mining of alt coins, excellent real-time data presentation as well as quality 24/7/365....
The bitcoin community endured a scare earlier this week when mining pool GHash. IO's hashing market share reached a whopping 42%, leaving many wondering if the potential was there for the pool to carry out a 51% attack on the bitcoin network. Scores of users took to bitcoin-related boards and pleaded for miners in the GHash. IO pool to join another pool, in order to bring GHash. IO's market share down. It worked. As of Friday, data provided by Blockchain.info indicates GHash. IO is now at 28% hashing market share in the past twenty-four hours. Undoubtedly an immense improvement, but many....