New Research Reveals: 47% of Bitcoin’s Hashrate Under Cobo’s Control

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Key Findings of the Research
  2. The Role of Cobo and Major Pools
  3. Impact on Decentralization and Security


    4. Recent research has shown that 47% of Bitcoin’s total hashrate is under the control of a single custodian, Cobo. Eight major mining pools route their payouts through Cobo’s addresses, effectively consolidating control over nearly half of the network’s new Bitcoin production.

    Key Findings of the Research

    The research reveals that 47% of Bitcoin’s total hashrate is controlled by Cobo, meaning a significant portion of the network’s power is concentrated in one custodian’s hands.

    The Role of Cobo and Major Pools

    Eight major mining pools, including AntPool, F2Pool, Binance Pool, and BTC.com, route their payouts through Cobo’s addresses, effectively consolidating control over nearly half of the network’s power.

    Impact on Decentralization and Security

    Such concentration raises serious concerns about the decentralization and security of the Bitcoin network. The rise of proxy pools, receiving identical block templates and transaction prioritization, indicates that the competitive landscape is less diverse than it appears.

    The consolidation of hashrate in the hands of a few key players undermines Bitcoin's core principles of decentralization and resistance to censorship, causing concern among the community and experts.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Banks Counter Stablecoin Growth with Higher Deposit Rates

A new working paper reveals that banks can slow the growth of stablecoins by increasing deposit rates.

user avatarLuis Flores

Polygon Labs Completes Acquisition of Coinme

Polygon Labs has finalized its acquisition of Coinme, enhancing its payment capabilities with numerous state licenses.

user avatarArif Mukhtar

Bitcoin Open Interest Sees Slight Decline While Funding Rates Remain Positive

A recent snapshot of the Bitcoin derivatives market revealed that open interest has decreased by 0.69% over the past 24 hours, now standing at 768 billion. Despite this decline, the funding rate remains positive at 0.00035 per eight-hour interval, suggesting that long positions are still willing to pay shorts on perpetual contracts.

user avatarMaria Gutierrez

French Lawmakers Approve Amendment on Crypto Taxation

French lawmakers have approved an amendment to the 2027 budget that changes the taxation of gains when converting cryptocurrencies to stablecoins.

user avatarDavid Robinson

US Spot Ethereum ETFs Face Major Withdrawals Amid Market Shifts

US spot Ethereum ETFs faced net withdrawals of $3.201 billion in mid-October, surpassing Bitcoin fund withdrawals.

user avatarAndrew Smith

Richard Heart Detained in Istanbul Linked to Finnish Tax Investigation

Richard Heart, founder of HEX and PulseChain, has been detained by Turkish authorities in connection with a Finnish tax investigation.

user avatarJacob Williams

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.