Cryptocurrency Q&A
What percentage of bitcoin mining capacity is controlled by miners?
What percentage of bitcoin mining capacity is controlled by miners?
Elena
Wed Jul 10 2024
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5 answers
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Could you elaborate on the current distribution of Bitcoin mining capacity among miners? Specifically, I'm interested in understanding what percentage of the total mining power is controlled by large mining pools or individual miners. This information is crucial for evaluating the decentralization of the bitcoin network and its potential for resilience against attacks. Additionally, I'm curious to know if there are any significant trends in the distribution of mining capacity over time and what factors might be influencing these changes. Thank you for your insights on this matter.
5 answers
Matteo
Thu Jul 11 2024
Specifically, it increases the vulnerability to a 51% attack, where a colluding group of miners or a single miner gains control over a majority of the network.
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Michele
Thu Jul 11 2024
The National Bureau of Economic Research (NBER) has conducted a study revealing a significant concentration of mining power in the Bitcoin network.
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Chloe_carter_model
Thu Jul 11 2024
According to the findings, the top 10% of miners command a staggering 90% of the total Bitcoin mining capacity.
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PearlWhisper
Thu Jul 11 2024
Even more striking is the fact that just 0.1% of miners, approximately 50 individuals, possess half of the entire mining capacity.
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KpopStarlet
Thu Jul 11 2024
This high level of concentration poses a significant risk to the stability and security of the Bitcoin network.
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