Bitcoin’s core promise of decentralization is facing a major test. Two pools now control a majority share of the network’s hashrate. This level of concentration challenges the very foundation of Bitcoin’s decentralized ethos.
In an X post, Jacob King, the CEO of WhaleWire, stated that two mining pools now control more than 51% of the Bitcoin network’s computing power. He warns that the stage is set for a potential 51% attack, which could completely undermine the BTC security model and trigger catastrophic fallout across the crypto ecosystem.
What This Means For Bitcoin’s Future Stability
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For context, the last time this occurred was in 2014 with mining pool GHash.io. The backlash was swift, while community panic spread, developers sounded alarms, and GHash was forced to voluntarily
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