New Report Highlights Increasing Decentralization of Bitcoin Mining
Bitcoin (BTC) mining has become more decentralized and continues to diversify, a new report from Canadian wealth management company Canaccord claimed on Feb. 6.
Canaccord, which tracks the blockchain and digital currency sectors along with its other financial operations, highlighted the increasingly wide distribution of Bitcoin’s hash rate over the past five years. This, the report says, represents a competitive marketplace which in turn makes the largest cryptocurrency less vulnerable to attack. Multiple mining pools currently contribute to Bitcoin network transaction processing, with that number increasing significantly since 2014.