The Dominance of Bitcoin Network by Mining Pools
The majority of hashing power on Bitcoin network is concentrated among a handful of mining pools. The Bitcoin community has seldom expressed concerns about the gradual centralization of the Bitcoin network. Ever since ASICs became the norm for Bitcoin mining, it has become impractical for individuals and small groups to involve themselves in profitable mining. A recent article in one of the leading business magazine offers a brief insight into the current distribution of hashing power across large mining pools who have dominated the digital currency network. The publication lists 18....
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John McAfee's new mining facility currently being set up in the State of Washington may be the answer to growing Chinese dominance of the Bitcoin network. China has always been considered as a threat in the capitalistic economic system. The world’s largest country in terms of population has been blamed for eating into the jobs as it continues to be a favored manufacturing destination for many companies across the world. The Asian country has now gained a strong foothold in the Bitcoin sector as well. An analysis of leading Bitcoin mining pools shows that over 51 percent of the total....
KNC is working with mining pools to improve the hash rate for their Titan customers after learning that customers saw hash rates under the promised 300MH/s. KNC is focusing on working with CleverMining as they're the largest pool on the Litecoin network. KNC has tested the Titan on several mining pools and has noted that certain pools perform notably better. WeMineLTC, GHash, and LiteGuardian are the highest performing pools tested while Coinotron and CleverMining mining pools are consistently lower. Also read: KNC Titans: Missed Quarter 3 Deadline and No Refunds. KNC Works with Mining....
During the first quarter of 2022, Bitcoin’s hashrate averaged between 180 to 200 exahash per second (EH/s) and during the course of that time, 13,233 block rewards were found by 16 mining pools. According to three-month statistics, Foundry USA was the network’s top mining pool in terms of hashrate percentage, as the bitcoin mining operation scored 2,380 blocks in Q1 2022.
Foundry USA Commands Q1 2022’s Top Bitcoin Mining Pool Position
Metrics indicate bitcoin miners issued approximately 82,706.25 BTC over the last three months after collectively finding....
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....
Bitcoin mining has become an advanced competitive market alongside securing the network. Over the years the mining sector has changed significantly from home operations, mining pools, and large data facilities churning out blocks. While observing mining pools over the years, there’s been a few times where skeptics have believed mining was quite....