AntPool mines 7 consecutive blocks, ‘centralization trend’ continues

AntPool, the second-largest Bitcoin (BTC) mining pool, mined seven consecutive blocks on Could 17, sparking worries throughout the cryptocurrency group about community safety.

This sequence of blocks confirmed 20,686 transactions, leading to over 23 BTC, valued at roughly $1.54 million in income.

The mining spree occurred between block heights 843,898 and 843,904, lasting one hour and 38 minutes.

Knowledge sourced from mempool.house reveals that AntPool accrued 1.283 BTC in charges along with 21.875 BTC from the block subsidy.

What provides intrigue to this growth is the involvement of Foundry USA, the most important Bitcoin mining pool, which mined the block previous this sequence and the next two blocks.

AntPool has mined 25.48% of all blocks within the final seven days, trailing behind Foundry USA, which holds 31.12% of the community’s hashrate.

Collectively, each corporations preserve a 56.6% mining dominance. In October 2023, Antpool briefly challenged Foundry’s management for 3 days.

This occasion underscores the inherent dangers linked with centralized mining swimming pools, notably the susceptibility to assaults resembling double-spending and transaction censorship.

Observers famous that AntPool and Foundry now management over 50% of Bitcoin’s hash fee, elevating considerations about potential centralization and transaction censorship.

“Such energy focus poses an existential menace to Bitcoin’s decentralized nature and its foundational precept of trustlessness,” TOBTC Buying and selling LLC posted on social media.

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AntPool was based in 2013 by Bitmain Applied sciences, a outstanding producer of mining {hardware}.

It’s primarily based in Beijing.

Nationwide safety considerations over crypto mining

The U.S. authorities has instructed a Chinese language-backed cryptocurrency mining firm to halt the development of a mine in Wyoming.

In line with a Could 13 order signed by President Joe Biden, MineOne Cloud Computing Funding and its companions are mandated to unload the property adjoining to the Francis E. Warren Air Pressure Base in Cheyenne, Wyoming.

MineOne Companions Ltd. is a Chinese language-backed cryptocurrency mining firm that deliberate to amass land close to the Francis E. Warren Air Pressure Base in Cheyenne, Wyoming

The order, issued in collaboration with the U.S. Committee on Overseas Funding in the USA (CFIUS), goals to handle considerations surrounding potential dangers related to international possession of land adjoining to delicate navy installations, significantly in proximity to a nuclear missile base like Warren AFB.

The chief order mandates the divestment of MineOne’s crypto mining facility and the elimination of Chinese language-owned tools from the location inside particular timelines to make sure compliance and mitigate dangers.

In different experiences, regulators in Norway have proposed new laws geared toward tightening rules on cryptocurrency mining actions performed by knowledge facilities working throughout the nation.

The brand new regulation, geared toward regulating knowledge facilities, is poised to grow to be a pioneering framework in Europe, requiring complete registration of information middle operators and disclosure of providers supplied.

The Norwegian authorities, led by Digitalization Minister Karianne Tung and Vitality Minister Terje Aasland, emphasizes the necessity to curb tasks deemed undesirable, significantly singling out cryptocurrency mining as a result of its substantial greenhouse fuel emissions.

Vitality Minister Terje Aasland explicitly acknowledged that Norway doesn’t welcome companies searching for to use the nation’s vitality assets cheaply, aligning with the nation’s environmental targets.

Learn extra: US Senators cite safety considerations over Iran’s crypto mining sector