Blocks in the Bitcoin network are now being generated almost exclusively by only two companies. Recent tweets claim that Antpool and FoundryUSA control more than 51% of the web-based on their creation of 512 of the last 1000 Bitcoin blocks.
JUST IN: For the first time in History, majority of Bitcoin's block production is controlled by 2 entities.
— CryptoVinco (@CryptoVinco) December 27, 2022
The extent of their influence over the network has never been seen before. Two hundred fifty-five blocks have been produced by Antpool, a subsidiary of the Chinese company Bitmain, and 257 by FoundryUSA. As a result, these two businesses are now validating more than half of all Bitcoin blocks.
CryptoVinco: Jihan Wu and Barry Silbert are liers
According to CryptoVinco, the companies’ owners, Jihan Wu and Barry Silbert are involved in a litany of fraud and other questionable practices. He continued by claiming that Maxis talks a big game about decentralization, but it’s all a bunch of nonsense. In his opinion, if these two groups worked together, Bitcoin’s code or blockchain would undergo significant revisions.
However, it is vital to keep in mind that the data supplied by CryptoVinco needs to be more conclusive. A more in-depth investigation of the block generation process will be required to analyze these two firms’ influence correctly.
The announcement has further heightened many people’s anxieties about the centralization of bitcoin mining, which have already been widely voiced. Not only can this prevent decentralization from occurring, but it might also cause costs to rise as these two businesses gain more significant influence over the network.
Antpool and FoundryUSA are still going strong despite the bear market
Despite all the cautions issued on the two firms amid the rise in FUD due to the 2022 market crisis, Antpool and FoundryUSA have excelled in delivering high-quality service despite other miners experiencing troubles. It seems they will only alter their past reliability and consistency for a while.
However, even though they have been in operation for a while, it is still worth noting that there has only been a slight growth in their user base lately. In conclusion, it is evident that the two firms still hold a significant stand in the Bitcoin mining space.