Coinbase’s Blockchain Security Team recently identified a significant shift in the Zcash network’s hash power distribution. A single mining pool, ViaBTC, was found to control over 51% of the network’s computational power, raising concerns about potential security vulnerabilities.
In Proof-of-Work (PoW) blockchain networks, miners compete to validate transactions by solving complex mathematical problems. However, if a single miner or mining pool gains over 51% of the network’s hash power, it can introduce risks such as executing double-spend attacks or censoring transactions. Such centralization can jeopardize user and exchange funds.
Coinbase, committed to ensuring security, decentralization, and compliance with digital asset listing standards, has taken several steps in response:
Increased Confirmation Requirement: Coinbase has increased the Zcash confirmation requirement to 110 blocks. This move aims to reduce the risk of…
