Recent data puts into question Bitcoin's core idea of decentralization. While some mining pools are becoming dominant, Cardano offers an alternative model with more participants.
Bitcoin Decentralization at Risk
In recent months, three mining pools — Foundry USA, AntPool, and ViaBTC — have come to control 62.33% of the entire Bitcoin network's hashrate. This means more than half of the network is managed by just three organizations.
* Foundry USA: 33.63% * AntPool: 14.85% * ViaBTC: 13.85% * Others like F2Pool, Luxor, and MaraPool each have under 5%
The dominance of Foundry USA is increasing, raising questions about the potential implications of actions by regulators or operational disruptions.
Cardano as an Alternative
Cardano (ADA) is showing a very different picture, currently operating with over 1,400 active stake pools. No single entity holds more than 5% control, preventing dominance by large operators.
This is reflected in its Nakamoto coefficient, which indicates how many independent entities are needed to shut down the network. For Bitcoin, this number has dropped to 2, while for Cardano, it’s well above 20.
Attack Potential on Bitcoin
Bitcoin's design relies on one key idea: it would be too expensive to attack. However, this assumption is weakening. The estimated cost of a 51% attack on Bitcoin has decreased due to:
* More efficient ASIC miners * Energy subsidies in some mining regions (e.g., Texas, China) * Cheaper hosting services at scale
If a single entity controls multiple pools, it could dominate the network, leading to potential transaction censorship. In contrast, Cardano lacks any structure that allows such concentration.
The current state of Bitcoin's decentralization raises concerns as three pools control a significant portion of the network. Meanwhile, Cardano presents a more robust and decentralized model.
