Blog Archives

Report: GHash commits to a 40% hashrate cap

Posted on 16th July, 2014

In June, behemoth bitcoin-mining pool briefly gained more than half of the total network hashrate, a move that caused many to question just how secure bitcoin’s much-touted decentralized network really was. The situation was a wake-up call for many, as it meant that the long-hypothesized “51% attack” wasn’t as implausible as many experts had […]

Report:’s Jeffrey Smith talks about the 51% problem

Posted on 23rd June, 2014

Few organizations in the bitcoin community have been the subject of such heated debate as On the one hand, GHash has created one of the most user-friendly, efficient and low payout-variability pools in the cryptocurrency world, leveraging their own dedicated cloud mining system to encourage high rewards for independent contributors. On the other, GHash […]

Updated shows greater range of mining pools

Posted on 20th June, 2014

Last week, a single mining pool,, briefly gained over 51% of the hashing power of the entire network. Although several core developers have claimed that a true 51% attack is extremely unlikely, and that the centralization of mining power isn’t the huge problem it has been presented as, this did little to slow the […] issues statement about 51% situation

Posted on 16th June, 2014

Over the weekend, bitcoin mega-pool controlled more than half of the network’s hashing power. Given that bitcoin was designed to be decentralized, with no particular party having any significant authority over the network, this was a deeply troubling development. Even worse, the GHash situation was a clear demonstration that bitcoin was unambiguously vulnerable to […]

GHash fallout prompts BitFury to pull 1.5PH/s from pool

Posted on 14th June, 2014

Industrial bitcoin mining company BitFury announced today that it has moved 1.5 petahash from the pool following widespread concerns of hashrate centralization and growing fears about the potential of a 51% attack. The company maintains two high-powered mining facilities in Iceland and Finland, taking advantage of those countries extremely low energy costs. Should the […]

Bitcoin developer Gavin Andresen weighs in on centralized mining and the GHash situation

Posted on 14th June, 2014

Back in May Bitcoin Foundation Chief Scientist told a crowd at the Bitcoin2014: “I still don’t care about mining [except] in the way it affects user experiences.” In the past two months, however, the situation has changed. Writing for the official Bitcoin Foundation blog today, Andresen expressed deep concerns about centralized mining and the impact […]

Miners flee after near 51% scenario

Posted on 9th June, 2014

The possible 51% scenario crisis over the weekend has been averted, with bitcoin miners leaving for other pools. is still the most popular mining pool, with 33% of the total hashrate, but the problematic scenario surrounding any one pool gaining the majority of the network hashing power has been averted. While there was […]