How concentrated is block formation in Bitcoin? Which mining pools are dominant, and how long have they held that position? Are major pools in a position to collude and censor transactions? Which miners should developers and key stakeholders engage with? How exposed is Bitcoin to potentially malicious miners? Are major pools reinforcing their dominant positions or is the industry becoming more competitive? (This was an issue covered by Ark Invest in mid 2018.)
Continue Reading “Granular mining pool mapping with Bitcoin’s coinbase outputs”