70% of the Bitcoin Cash network hash is captured by unknown miners

Crypto News

70% of the Bitcoin Cash network hash is captured by unknown miners. There are 51% attack risks

The share of the hash rate of unknown origin in the Bitcoin Cash blockchain suddenly rose to 68.75%, the Trustnodes portal draws attention.

Over the past week, the hash rate of unknown miners was 39% before it increased sharply this Monday.

Bitcoin Cash mining profitability is currently 2.9% lower than Bitcoin. However, Bitcoin Cash accounts for only 1.2% of the total hash rate of the three chains with similar algorithms, while Bitcoin Cash accounts for 97.9%.

Technically, such a shift in computing power makes the network less secure, since it increases the likelihood of a successful attack by 51%. The true motives of this miner remain unknown.

Earlier, the Binance exchange drew attention to the fact that miners who preferred mining Bitcoin Cash and Bitcoin SV to mining Bitcoin often did it at a loss and were guided by non-economic considerations.

In May of this year, the BTC.com and BTC.top pools attacked 51% of the Bitcoin Cash network to rewrite the transaction history and thus eliminate the consequences of the actions of an attacker who took advantage of the vulnerability that opened after the hard fork.