51% of the Zcash network capacity controls one pool

in #bitcoin7 years ago


Extraction of crypto currency can be both a blessing and a curse. Everyone knows the problem of Bitcoin's centralization when it comes to mining, but not only the king of crypto currency Bitcoin has this problem - in Zcash the situation is even more critical - at the moment one pool controls 51% of the capacity of the entire network.

It is always interesting look at the development of the interaction system of various crypto-currencies. In Bitcoin's world, the problem of centralization lies in the fact that a significant part of the network's power is concentrated in several Chinese pools. Sooner or later it will come off, but at the moment very few people are ready to raise this problem for making changes.
And curiously, Zcash has overtaken Bitcoin in this part. At the moment, 50% of the development of miners is in one single Flypool pool, and this is very strange, since there are more than a dozen decent pools with high chances of finding blocks. In addition, over the last week, several more rich pools have been discovered to develop the production of crypto currency, apparently, they were found to encourage the miners to leave Flypool.

Some users are concerned that Flypool is more than twice the size of F2Pool in its volumes, and in this connection Flypool can easily attack the network. But since he already controls more than half of the entire extraction of Zcash , it is clear that for such actions he has no reason. But, on the other hand, if Flypool has not done so already, then there is no guarante that it will not do so in the future.

In connection with the discovery of new rich pools, some miners are already leaving Flypool in an effort to diversify capacity. It is very difficult to take the hash power from one pool and pass it to another or distribute it more evenly, because for most miners the only thing that matters is profit, and therefore they tend to work in the pool with the highest capacity, since this increases their chance faster to find new blocks.

It is also worth noting that Zcash is by no means the first currency among the altcoyins, suffering from the centralization of pools. Not a similar problem surfaced in connection with Lightcoin, but in the end everything was resolved. There is no reason to think that Zcash will not solve this issue, but now the miners should be more attentive and, if possible, transfer the production capacity to other pools until everything is normalized.