monero The community has begun to sound alarm bells as a mining pool approaches an alarming majority in the XMR network’s hashrate.
Cryptocurrency Although the community is constantly posting on the subject, the Monero team has not yet made any statement.
If the mining pool does indeed capture the majority of the hash rate, there may be developments that will affect the entire XMR network.
MineXMR Mining Pool Has 49.02 Percent Majority Over Monero
The mining pool named MineXMR is known as the most frequently used pool by Monero miners.
Currently, 12,805 miners in the mining pool have a total hash rate of 1.58 million kH/s.
Thus, we see that the MineXMR mining pool has a total dominance of 49.02% in the XMR network.
The reason this situation is worrying is that in the cryptocurrency world, a miner or mining pool reaching the majority never ends well.
Miners who reach a majority on the network can leave the network vulnerable due to the so-called 51% attack.
It is known that 51% attacks are one of the biggest dangers for the crypto money world. The miners who reach the majority on the network have great power in making the decision and confirming the transactions for the crypto currency in question.
In such cases, the immutability of Blockchain networks is compromised.
Monero, which has experienced a decrease in the number of users recently, declined from its peak value of 40,000 to 19,000 in terms of transaction activity.
*Not investment advice.