Bitcoin Hashrate Flash-Crashes 40% Highlighting Pure Proof-of-Work Vulnerability

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Mark Mason

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Bitcoin Hashrate Flash-Crashes 40% Highlighting Pure Proof-of-Work Vulnerability



Bitcoin’s hashrate experienced a flash crash, dropping nearly in half, highlighting a potential issue with the pure proof-of-work security model.

This week, the Bitcoin hashrate dropped significantly in a plunge in the network’s mining power of 40%. According to data from Fork.lol, Over the course of about 14 hours the network’s hashrate dropped from around 107 exahashes to a little over 59 exahashes. This means that nearly half of all the Bitcoin network’s security was removed over the course of a half-day, making the network more vulnerable to attack than it had previously been. At time of writing no specific cause for the sharp decline in hashrate has been definitively identified.

Read more - https://dashnews.org/bitcoin-hashra...ighlighting-pure-proof-of-work-vulnerability/
 
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