Chinese Bitcoin company centralizes mining operations, study suggests
Bitcoin (BTC) is the leading cryptocurrency whose core value lies in being secure and uncensorable money powered by a decentralized network of miners, reaching consensus over its users’ transactions. However, experts have challenged Bitcoin’s long-term security model and decentralization status over the years, warning of gradual proof-of-work centralization. A study published by pseudonymous analyst b10c (@0xb10c, on X) suggests that mining operations centralization could be worse than ever. The analyst shared insights on April 17 that point to Bitmain dominating Bitcoin mining operations among multiple pools, raising concerns. Picks for you AI predicts Cardano price for July 31, 2024 29 mins ago Logan Paul's net wor...