Definitely not a Scam: more than 50 percent Hasrat Bitcoin Cash controls one pool

The centralization of Bitcoin Cash has reached a new level — now half Hasrat cryptocurrency controls only one pool. According to experts CoinDance, mining pool BTC.TOP today responsible for 50.2 per cent Hasrat BCH. Its total capacity is 679 peachesa per second. BTC.TOP shares money with BTC.COM (257 of peachesa), ViaBTC (215 peachesa), AntPool (125 peachesa) and Bitcoin.com (187 peachesa).

Centralization as it is

Today the main topic of discussion in the Bitcoin community Cash is a high probability of an attack 51. Earlier cryptocurrency Roger Faith have not once criticized for being too centralized. The project has not passed the “stress test” an anonymous developer under the name Bitpico. The programmer found out that 98 percent of all the BCH node connected to one server, which could lead to a potential break-in.

The Central aspect of any decentralized blockchain is the ability to withstand pressure on the system and to prevent the intervention of any centralized organization. Attack 51 itself carries a great danger for the cryptocurrency, as it can totally destroy any project.

Recall another fork of Bitcoin Bitcoin Gold has suffered from the attack. 51 in 2018. Hackers for several days to re-spend coins BTG and the total amount stolen $ 18 million.

In some cases crossing the 50 percent barrier may occur unintentionally. In 2014, the GHash pool.io has “captured” more than half Hasrat Bitcoin. After a wave of disturbances in cryptocommunist the pool management decided to reduce their capacity so as not to undermine a lucrative business.

BTC.TOP can go on the same way. If a large miner will agree to reallocate processing power within the network of cryptocurrency, it will increase investor confidence in Bitcoin Cash. Otherwise, the BCH may be endangered.

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Who really controls bitcoin?

CEO Ripple brad Garlinghouse, speaking at a conference Stifel Cross Sector Insight in Boston, said that “bitcoin is actually controlled by China”.

This statement Arlinghaus made during the interview dedicated to blockchain technology and cryptocurrencies for Stifel Tech:

Here’s another story that only few writes and speaks. Bitcoin is actually controlled by China. In China there are four mining companies, which control more than 50 percent of the bitcoin network. Is there any guarantee that China will not intervene? How many countries want to use China’s controlled currency? The answers to these questions are obvious.

Arlinghaus also shared his view on technology that lies at the Foundation of BTC, XRP, and many other cryptocurrencies. In particular, he said that blockchain technology will not be able to destroy the banking industry, though, and “will play an important role in how the banking system in the future.”

According to Garlinghouse Ripple is “the best digital asset for today”. Arlinghaus stated that “the average speed of the transactions in the network of bitcoin is 45 minutes”, whereas XRP is doing the same thing for four seconds.

Read also – analysts: don’t expect a recovery bitcoin in the near future

In February, trading platform BitMex has published a special report dedicated to Ripple and XRP token, which found that the structure of the Ripple consensus Protocol offers a more centralized structure than is the company.

According to the report, the research team BitMex conducted an internal test of the technology Ripple. The team has installed and commissioned a copy of Rippled, Noda worked five downloading public key from the server Ripple, all of which were assigned to Ripple.com. To accept the offer (or transaction) it was necessary to obtain confirmation from four of the five keys:

Since all the keys have been downloaded from the server Ripple.com you can say that Ripple has full control over the network, and the system is centralized.

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