Miner controls 80% of Bitcoin Satoshi Vision (BSV) hashrate!

Miner controls 80% of Bitcoin Satoshi Vision (BSV) hashrate!

Blockchain as a result of the Bitcoin Cash hard fork initiated by Craig Wright, Bitcoin Satoshi Vision is under threat of a possible attack at 51%. In fact, it was noted that a single blockchain miner controlled 80% of the network hashrate. The nature of his blockchain operations quickly alerted the crypto community, which conspired to isolate him.

A miner who produces empty blocks for his own profit

Present on the Satoshi Vision Bitcoin blockchain since 2020, the malicious miner began to shine since June by mining empty blocks. His activity on the network became so intense that he managed to hold 80% of the network’s hashrate by himself.

Although the production of empty blocks is not prohibited according to the blockchain white paper, the current situation is problematic. In fact, by ignoring thousands of paid transactions broadcast by users and other network nodes, this miner is disrupting BSV’s economic activity for its own profit.

Thus the interested party, who regularly operated with the address 1KPSTuJMCMRXrTWHfCwpiRZg1ALbJzh844, was able to accumulate more than 9,000 BSV, or almost $450,000 as of September 9, 2022. The Bitcoin Association finally saw his dishonest act, and the Bitcoin contact in vain. in order to restore good network activity.

Also read: Binance launches $500 million loan project to support cryptocurrency miners

Towards freezing the rewards of malicious miners

The Swiss non-profit supporting the Bitcoin-centric initiatives of Satoshi Vision, the Bitcoin Association issued a press release on the facts on October 16. In particular, she urged all network node operators and cryptocurrency exchanges to prevent the malicious miner from cashing in their reward.

“The Bitcoin Association is taking steps to contact all exchanges and miners involved, to freeze all rewards associated with this malicious miner, and will take criminal action against the entity or entities entity responsible for extracting it. »

In addition, he granted the malicious minor a period of 24 hours to contact him, to resolve the dispute under penalty of retaliation. Despite the difficulties they are currently facing on the network, honest miners are encouraged to continue processing transactions to ensure the survival of Bitcoin Satoshi Vision.

Oryen Krypto

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