U.S Mining Is Taking Over: Is Centralization Imminent? — DailyCoin

in hive-116221 •  last year 

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Our synopsis: 

We often hear of the problem of centralization of miners and the possibility of 51% attack culminating in double spent. 

While it is easy to have 51% concentration of hash power in a smaller blockchain it is not so in large blockchain like Bitcoin and Ethereum. In such large networks, there is too much at stake, and knowing this the BTC and ETH communities stay vigilant and ensure that the hash power is distributed well. Besides with high hash rates it is very expensive to achieve the necessary hash power to launch a 51% attack in networks such as BTC and ETH. 

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