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power. Slush Pool is one of the few mining pools to publically display mining pool statistics and voting. A pool with more than 51 of the network hash powerlike can block transactions, double spend, and change other consensus rules. Bitcoins developers will create new solutions to ensure Bitcoin remains decentralized once scalability has been solved). The country itself goldman sachs bitcoin-2018 is home to between 60-70 of the Bitcoin network hash power. In July 2014, mining pool frightened the Bitcoin community when it held more than 51 of the Bitcoin network hash rate. Decentralized mining pools, like, p2Pool, can also help lessen centralization. The Future, although not Bitcoins most pressing problem, it is clear that mining centralization poses a threat to Bitcoins core concepts.
Miners are in business to make money. At anytime, individual miners can solo mine or switch pools. But the hash power in China is also made of individual miners that can switch pools at any moment. Asics had been exponential. Ethereum creator Vitalik Buterin also suggests that easily installable software could further weaken large pools. Todays Mining Centralization, since the creation of Bitcoin mining pools, the hash rate distribution of Bitcoin has become increasingly centralized. Up until 16nm chips, the improvements made.