Mining pools hashing power distribution


#21

They found the next best thing in making money. Good for them, can’t say anything more.


#22

@M-Kid get more ASIC miners and rescue us, good sir.


#23

@M-Kid is the ETN saviour one day he will be praised and a statue will be build in my garden of him :space_invader: :sunglasses:


#24

LOL, already have more than I want! There must be like 10’s of thousands of ASIC’s on the network. I would rather spend millions of dollars just buying coins then buying Asic’s! lol


#25

Either way i still build that statue :yum:


#26

DDOS for sure :grin:


#27

I don’t see this as an issue, although the distribution should be more even.
If f2pool were to launch an attack, everyone would know who did it, and they would no longer be able to mine it.
I would be more concerned if someone with a stealth pool held 50%+ of the network hash rate.

It is clear that Bitmain is manufacturing quite a bit of cryptonight miners, and that means that they see a market for it.
Looking at the list of cryptonight coins that allow asic mining, I can’t really see any coin with more potential than Electroneum.
So the fact that large mining farms and manufacturers are betting on Electroneum should give us all some reassurance that we have invested in the next big thing.


#28

100% AGREE - ETN is the best choice from the whole market and new coins


#29

f2pool is a well-known pool since 2013, they have no interest in destroying the network by buying some asics for a small profit, when they can keep gathering ETN until it grows exponentially.


#30

Is there any problem with the blockchain - Why we have so many empty blocks?
f2pool has 65.4 % of Pools Hashrate - That’s not good for sure
Are we under attack from them?


#31

Great and in depth, thanks for clarifying the difficulty of actually pulling the attack off. Puts me at ease knowing my funds are safe :grin:


#32

Empty blocks are due to stop withdrawal and deposits to all exchanges…


#33

Thanks for the info mate


#34

now everything is fix and the empty blocks double compare to before the patch - any clue


#35

@profit Due to spike in etn price, hash power of the network is

insane

at the moment
Top pools are competing to mine (short block time) blocks

Exchange deposits are still down, there are few transactions in the Tx Pool and I think we are seeing zero-transaction blocks because TxPool is empty.

Take a look at this empty block:


#37

Almost 1000 txs remain in pool now, and also still many of empty blocks. Something wrong with blockchain?


#38

@Mikas I am running a node, network looks healthy.
Total transactions are growing steadily.

There are no alternate chains and current blockheight is 388387, the same as the blockexplorer

I am no expert on monero blockchain, but im guessing we made an alternate chain with a few transactions about 5 hours ago. This alt-chain is now agreed upon as obsolete, the blockchain is reorganized and old transactions from the dead alt-chain are moved back into the pool (some of them are about 5 hours old)

The creation of alternate chains is normal, have a look here

This is why exchanges need about 20 confirmations before they accept a deposit


#39

51% attacks could be done because of miner centralization now, but they are not profitable to do, 51% attacks is our minor risk, bitmain could also 51% attack bitcoin after the release of their new Asic machine. but i don’t think they will do so because it’ will not be profitable, satoshi wrote the code As long as honest nodes control the most hashing power on the network,
they can generate the longest chain and outpace any attackers.
Even if a bad guy does overpower the network, it’s not like he’s instantly rich. All he can accomplish is to take back money he himself spent, like bouncing a check. To exploit it, he would have to buy something from a merchant, wait till it ships, then overpower the network and try to take his money back. I don’t think he could make as much money trying to pull a carding scheme like that as he could by generating bitcoins. With a zombie farm that big, he could generate more bitcoins than everyone else combined.
for an attacker to change if honest nodes
control a majority of hashing power. The network is robust in its unstructured simplicity. Nodes
work all at once with little coordination. They do not need to be identified, since messages are
not routed to any particular place and only need to be delivered on a best effort basis. Nodes can
leave and rejoin the network at will, accepting the proof-of-work chain as proof of what
happened while they were gone. They vote with their hashing power, expressing their acceptance of
valid blocks by working on extending them and rejecting invalid blocks by refusing to work on
them. Any needed rules and incentives can be enforced with this consensus mechanism.

consider the scenario of an attacker trying to generate an alternate chain faster than the honest
chain. Even if this is accomplished, it does not throw the system open to arbitrary changes, such
as creating value out of thin air or taking money that never belonged to the attacker. Nodes are
not going to accept an invalid transaction as payment, and honest nodes will never accept a block
containing them. An attacker can only try to change one of his own transactions to take back
money he recently spent.
The race between the honest chain and an attacker chain can be characterized as a Binomial
Random Walk. The success event is the honest chain being extended by one block, increasing its
lead by +1, and the failure event is the attacker’s chain being extended by one block, reducing the
gap by -1.
The probability of an attacker catching up from a given deficit is analogous to a Gambler’s
Ruin problem. Suppose a gambler with unlimited credit starts at a deficit and plays potentially an
infinite number of trials to try to reach breakeven.


#40

If i was mining etn at a pool with more than 51%, I would switch pool to protect myself and the blockchain.

Im guessing f2pool.com is run by one powerful entity, and that is why he does not need to worry about the above.


#41

I don’t like mondays, and i don’t like Bitmain’s f2pool.com

I am watching node logs, and I am sure the blockchain team at electroneum is too.

If an alt-chain grows greater than 21 blocks in size, a double spending scenario is possible.
Alternate chains have to my attention never grown larger than 1-3 blocks

I do worry about crooked pool administrators with a lot of hashing power using a patched version of node software to gain advantage in the race for blocks

@JihanWu, be a responsible pool operator and encourage your miners to move some of their hashpower to other pools…