“Anonymous” acquires the Bitcoin SV blockchain … Is the network in danger?
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Answer “Anonymous” acquires the Bitcoin SV blockchain … Is the network in danger?
A mysterious mining group has taken over the majority of the Bitcoin SV (BSV) network hashrate, raising concerns about the network’s security.
According to the data released by Queen DanceAn unknown miner or group of unknown miners have massively ramped up their mining operations on the Bitcoin SV blockchain in the past few days.
This now accounts for more than half of the Bitcoin SV hash rate that secures the network.
As of yesterday, March 23, unknown miners contributed a total of 1,576 PH/s of mining energy, compared to 730 PH/s one week ago, an increase of 100%.
At about the same time, a large group of hash rate savings contributors, overseen by Coingeek, a Bitcoin SV advocacy group, left.
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The Bitcoin SV hash rate has seen a 75% drop in the past week.
It is possible that some miners have decided to move from Coingeek to another mining pool.
Since this unknown miner now controls more than 50% of the SV network, it could theoretically launch a type of attack known as a 51% attack.
Which can cause a lot of problems to the network.
If a 51% attack is launched, the attacker can do various evil things like rewrite recently confirmed bans, prevent transactions from being confirmed and double spending is possible.
This is the second time in three months that the Bitcoin SV network has seen a sudden shift from popular mining pools to individual mining or unknown mining.
Withdrawal from SV Bitcoin Mining Came After Advertising TAAL and Coingeek have announced that they will reduce BSV mining fees, which appears to be the reason many miners are turning to other groups.
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