Bitcoin has a 51% attack
mgsc·@arvindkhushi·
0.000 HBDBitcoin has a 51% attack
 On June 26th, Bitcoininst, CryptoVest, Smartereum, LiveBitcoinNews and CryptoCoinNews reported that Bitmain's swimming pool, Antpool, and BTC.com together approached 51% of the total bitcoin hash. The fact that they did not take into account is that the company does not own most of the miners involved in the swimming pool and only supports them through infrastructure and operations. As a private company, we cannot truly understand how many of the miners involved in these two pools really own Bitmain itself. In any case, when most people are distributed to private owners around the world, it is difficult to see people think that Bitmain can use all of these hashing capabilities. Bitcoin is a consensus-based decentralized currency whose transactions are written on blockchains, and blockchains are platforms for achieving consensus. This means that the maintenance, acceptance and release of transactions are distributed among the communities. In order to reduce risks and differences, people began to form the team that they jointly completed these tasks. This is how the mine pool was invented. Opposite argument I hate to see the Bitcoin network in a vulnerable state, or it has a single point of failure. Let us say that Bitmain is really a villain. The worst thing that could happen is a fork, and Bitcoin will continue without these two pools. This is unlikely because Bitmain is one of the main contributors to the decentralized revolution. They have invested heavily in infrastructure and status, and they are unlikely to abandon it. Another point to consider is the additional hash energy required to achieve 51% of the hashing capability. Although the two pools are close, 51% of the distance is still 4 million TH/s. This is equivalent to 286,000 Antminer S9i. Either way, these moves will not be ignored. Bitmain is too involved in Bitcoin because it is a real risk. It can be said that we do not want anyone to exceed 51% of the power, but we also do not want to see scattered communities as static assets that are simply used by large companies. We are part of a diversified economic maintenance machine that does not belong to anyone. We are consensus-driven, and if there is any threat to this balance, we only need to adjust. BTC.com and AntPool are different pools Whether they are maintained by Bitmain, both pools have thousands of miners who choose to participate independently in the pool. In order to make 51% of the attacks a reality, we need to see these pools merge into one, stop mining the longest chain (if you want to perform 51% of attacks, it is necessary), let all participants ignore this The facts and stories that survived. What does Bitmain try to steal? They have more than 51% of mining-related profits and do not act maliciously. What if Bitmain is hacked? Or the Chinese government takes over. Similarly, they need to pull out Bitmain from the network, letting the entire community ignore this fact, and fortunately they are faster than others (and Bitmain uses all communications to ask miners to stop contributing because they are being hacked). However, hackers must also deal with the following ideas: "What is more profitable, 51% of the entire BTC blockchain attack, or use Bitmain's mining pool to mine our own address?" in conclusion Don't be a victim of FUD, conduct proper research and find the truth behind the headlines. The news tries to help as much as possible, but understand that this is an economy that is very different from the traditional model. Everyone has a say and influence on this process. As long as Bitmain is still developing and selling ASIC miners, they will keep Bitcoin safe and robust for a long time.