Bitcoin [BTC] Mining Has Become Lot More Decentralized - Report.

Bitcoin [BTC] Mining Has Become Lot More Decentralized - Report.

2019-02-07 | Robin Williams

Bitcoin [BTC] Mining Has Become Lot More Decentralized - Report.

In line with a recent analysis report by Canadian wealth management firm named ‘Canaccord’, Bitcoin [BTC] mining has become a lot more decentralized and is continuing to diversify.

Canaccord, tracks the blockchain and digital assets sectors alongside other different monetary operations, highlighted the progressively wide distribution of Bitcoin’s hash rate over the past 5 years.

The report additionally represents a competitive marketplace that successively makes the major cryptocurrency less liable to attack.

Several mining pools presently contribute to Bitcoin [BTC] network transactional processing, with which number increasing considerably since 2014.

In line with Canaccord’s information, in 2014, the Ghash.io pool controlled around half of the market. 5 years later, no single pool controls over 19% of the hash rate as of 2nd Feb.

The present largest pool remains Antpool, the report notes, that alongside ViaBTC belongs to Bitcoin mining giant Bitmain. The corporate has seen mixed fortunes over the past few year, with its share of the mining sphere correspondingly reduced.

Statistics regarding mining pools vary by source. Information from 'Blockchain.com' presently lists Antpool’s share at 10.5%, whereas 'Bitaps' suggests it's closer to 8.5%.

More usually, Bitcoin’s hash rate has 'improved' since Nov., once a downtrend in Bitcoin [BTC] prices caused miners to 'cut back' activity over 'profitableness woes'.

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