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Cryptoknowmics 2022-08-01 12:20:39

Giant Mining Pool for Monero to Shut Down on August 12

The giant mining pool for Monero, MINEXMR, has announced a shutdown by August 12 and will continue with the switch to a decentralized peer-to-peer collection. More than 44% of the hash rate on the network is under MINEXMR’s control. However, this has sparked debate on many forums and social media sites among the Monero community about whether or not it would endanger decentralization. Similar complaints have been made on the r/monero subreddit, which is dedicated to Monero. Community members on this subreddit stressed that the pool is “too close to 51 %” and trended “boycott MINEXMR.” A miner can take over the entire network by controlling most of the hash power in a 51% attack. In addition to extensive blockchain reorganizations, such attacks may result in problems with double-spending on the internet. List Of Monero XMR Mining Pools The MINEXMR mining pool alone provided the Monero network with 1.48052 gigahashes per second (GH/s). The next in line is Nanopool, contributing 21.82% of the global hash rate for XMR. Like the third line, Supportxmr controls 14.85% of the total hash rate for XMR. Since 2018, the Monero community has been addressing the issue of decentralized mining. The largest privacy coin in use today, with a market cap of $3.1 billion, is XMR from Monero. The price of XMR increased by 20% during the recent two weeks of a general market rebound.The post Giant Mining Pool for Monero to Shut Down on August 12 app...

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