SpiderPool Announces the Launch of “TrustView” to Promote Decentralized Bitcoin Mining

a – August 10, 2023 – SpiderPool, a leading cryptocurrency mining pool operator, today announced the launch of “TrustView,” a new tool that provides transparency into the company’s mining data. The tool is designed to address concerns about the centralization of Bitcoin mining and to promote a more decentralized and transparent Bitcoin mining ecosystem.

A 51% attack is a scenario in which a single entity or group gains control of more than 50% of a Bitcoin blockchain network's computing power (hashrate). This level of network control would enable the attacker to alter the blockchain, theoretically allowing them to engage in activities like double-spending, preventing new transactions, and reversing unconfirmed transactions.

The likelihood of a 51% attack on Bitcoin is generally considered to be low due to the vast size and decentralized nature of the network. However, some concerns have been raised regarding the increasing centralization of Bitcoin mining, with a small number of large mining pools reportedly controlling a significant portion of the total hashrate.

News source：https://www.kdj.com/cryptocurrencies-news/articles/spiderpool-announces-launch-trustview-promote-decentralized-bitcoin-mining.html

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