One Mining Pool Controls 53% Of Zcash Hashrate

Newest knowledge reveals that one mining pool controls greater than 53% of the hashrate of the Zcash cryptocurrency community. On September 19, 2023, the Viabtc crypto mining pool had 4.2 GSol/s with a complete Zcash hashrate of seven.84 GSol/s. Electrical Coin Co., which oversees the Zcash mission’s codebase, acknowledged the issue Tuesday, citing a “lack of finality.”

Coinbase launched a “PSA” referred to as “Noticed dangers in Zcash mining pool distribution.” Within the evaluation, Coinbase detailed the prevailing downside and talked about its direct interplay with the Zcash group. To guard prospects’ belongings from potential issues, Coinbase has taken measures together with shifting its Zcash markets to a “restrict solely state.”

ECC defined that the issue is brought on by a scarcity of finality that impacts all proof-of-work blockchains. The corporate supplied an answer referred to as Trailing Finality Layer (TFL). ECC believes this may repair the issue by offering finality for Zcash. Moreover, ECC famous the transfer to proof of stake (PoS) as a helpful transfer for Zcash, itemizing it as considered one of its “high 4 priorities.”

Picture: CoinCentral