Altcoins

Calvin Ayre and Craig Wright Gain 70% of BCH’s Hashrate

from Trust Nodes 5 years ago 0 0 672

Calvin Ayre and Craig Wright pools currently account for about 70% of BCH’s network ahead of a chain-split fork in two days.

Coingeek has reached 40% of the hashrate as pictured above, while SVPool stands at circa 20% with nChain’s BMG standing at 10%.

The total hashrate of Bitcoin Cash has not changed, standing at 4.8 quintillion hashes per second, or just under 10% of BTC’s hash.

What appears to have happened instead is that a large portion of previously unknown miners has now moved to one of the above pools.

In addition, it is now about 30% more profitable to mine on the BTC chain, so some BCH miners may have moved to BTC.

It looks like Craig Wright affiliated pools have 3.3 exahashes, or quintillion hashes per second, making it about 6.6% of BTC’s hashrate.

That’s slightly more than Bitmain’s stated hash of 2,339.21 PH/s, or about 5% of BTC’s network. Bitmain, however, is in the process of doubling their hash with 90,000 miners to soon be turned on.

It is probable that Calvin Ayre and Craig Wright have now revealed their entire hashrate, although whether that is in fact the case remains to be seen.

If it is just about 7% of BTC’s hashrate, then it appears somewhat difficult for them to 51% attack BCH while also mining the BSV chain.

Jiang Zhuoer, founder of BTC.TOP which has about 10% of bitcoin’s hashrate, said that “Bitmain can call BTC’s computing power for BCH computing power, so the computing power is more than CSW. CSW must have a financial advantage and a stronger will to burn money in order to win.”

He however claims neutrality, stating that “BTC.TOP will support the party willing to invest more computing power and funds, and help this side to end the chaos of the power battle as soon as possible and restore the order of the BCH blockchain.”

It is not clear whether this is really a neutral statement because he appears to be saying Bitmain has more hash and BTC.TOP will support whoever has more hash, thus presumably they will support Bitmain.

Zhuoer further argued that pool miners don’t really care about what coin is being mined and might not even know what coin is mined. Suggesting that Zhuoer himself might move over hash from BTC.

ViaBTC’s founder, Haipo Yang, is another big player with about 10% of BCH’s hash. He has made no public comment recently, but previously he has suggested strong support for ABC.

It is probable both Zhuoer and Yang will back the ABC chain not least because that has the vast majority support of about 80% going by futures.

If they don’t then the BCH community might have to change the algo. Meaning we probably won’t see any misbehavior at the protocol level, but whether that will indeed be the case remains to be seen now in just two days.