Bitcoin Security Concerns Rise as Two Pools Dominate 51% of Network

The post Bitcoin Security Concerns Rise as Two Pools Dominate 51% of Network appeared first on Coinpedia Fintech News

Bitcoin, the world’s largest cryptocurrency, which has long been seen as the symbol of decentralization, but that image is now being tested. Recent on-chain data shows that just two mining pools now control over 51% of the network’s hashrate.

While this doesn’t mean an attack is happening, it opens the door for one, and that’s enough to raise concerns.

What a 51% Attack Could Mean

At the heart of the issue is what’s known as a “51% attack.” When a group controls over half the network, they can technically reorder transactions, censor payments, or attempt double-spends.

Leon Waidmann, Research Head at Onchain Foundation, recently pointed out that pools like Foundry USA, Antpool, and F2Pool now dominate the space, while smaller miners are losing ground. This imbalance has long worried the Bitcoin community.

Meanwhile, they cannot create new Bitcoin out of nothing or break digital signatures, but even having this much influence makes the system less secure. In short, the risk is not about what has happened, but about what could happen.

History Repeats Itself?

This isn’t the first time the community has faced such a scare. In 2014, a single mining pool briefly crossed the 50% mark. Back then, miners quickly moved away after community pressure, and the balance was restored. 

Something similar could happen again, but the concern lies in how long it may take for miners to react if the situation repeats.

Also Read :   Cathie Wood’s ARK Invest Buys Bullish & Robinhood Shares As Crypto Stocks Dip   ,

Can Bitcoin Fix This?

Meanwhile, there are possible solutions. New tools like Stratum v2 could give miners more control by letting them decide which transactions to include. Faster switching between pools and non-custodial pool designs could also help. 

But these solutions are not yet widely used, leaving Bitcoin with a centralization problem that needs urgent attention.

The situation doesn’t mean Bitcoin is broken, but it does act as a warning.

As of now, the Bitcoin price is trading around $113,864, reflecting a slight rise seen in the past 24 hours.