Bitcoin Security Concerns Rise as Two Pools Dominate 51% of Network
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Bitcoin, the world’s largest cryptocurrency, which has long been seen as the symbol of decentralization, but that image is now being tested. Recent on-chain data shows that just two mining pools now control over 51% of the network’s hashrate.
While this doesn’t mean an attack is happening, it opens the door for one, and that’s enough to raise concerns.
What a 51% Attack Could MeanAt the heart of the issue is what’s known as a “51% attack.” When a group controls over half the network, they can technically reorder transactions, censor payments, or attempt double-spends.
Leon Waidmann, Research Head at Onchain Foundation, recently pointed out that pools like Foundry USA, Antpool, and F2Pool now dominate the space, while smaller miners are losing ground. This imbalance has long worried the Bitcoin community.
1/ Two Bitcoin pools now control more than 51% of the network hashrate!