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The goal of CPU mining is to making it difficult for well-funded parties to control the network's hashpower by amassing powerful GPU/FPGA/ASIC miners. If you l
by hendzen 13y ago
The goal of CPU mining is to making it difficult for well-funded parties to control the network's hashpower by amassing powerful GPU/FPGA/ASIC miners. If you look at the distribution of hashpower [0] in the Bitcoin network, you can see that two pools (GHash.io and BTC Guild) together control a majority of the network. To be fair, many believe that this is nonetheless incentive-safe because the gains from executing double-spends would be small compared to the lost mining revenue from the subsequent massive drop in value of BTC.
That said, there was a double spend executed by a rogue operator of GHash.io [1].
[0] - https://blockchain.info/pools https://blockchain.info/pools
[1] - https://bitcointalk.org/index.php?topic=321630.msg3445371#msg3445371 https://bitcointalk.org/index.php?topic=321630.msg3445371#ms...