Slush Pool, the bitcoin mining pool operated by Trezor founder and CEO Marek “Slush” Palatinus, has officially become the largest mining pool ter the global bitcoin mining industry.
Recently, most of the mining pools and hash rate which had previously supported the SegWit2x hard fork migrated to Bitcoin Contant. Consequently, many of the leading mining pools such spil Bitmain’s Antpool reallocated their hashrate from bitcoin to Bitcoin Metselspecie, leaving the bitcoin mining space open for competition.
Spil some hashrate left the bitcoin network, Slush Pool solidified its position spil the largest bitcoin mining pool te the industry, accounting for 20.8 procent of the bitcoin network’s hashing power.
For many months, Slush Pool wasgoed praised for the freedom it has provided to miners within the pool. For example, te regards to the SegWit2x hard fork, it permitted miners to choose whether to signal for SegWit2x or not, instead of forcing miners ter its pool to adhere to its vision.
Spil Slush Pool overtook Antpool te hash rate, the bitcoin community celebrated the company’s milestone.
While other pools are busy with mining altcoins, @slush_pool became the largest #bitcoin mining pool with 20%+ blocks. #FunFact pic.twitter.com/712vH2gbtA
Te response to a question from a bitcoin user ter the community about the SegWit2x hard fork and the migration of some capital, resources, and hashing power to Bitcoin Metselspecie, Slush stated:
“I’m not here to determine. Wij let our miners to choose and they rejected NYA.”
Originally, the bitcoin market reacted positively to the cancellation of the SegWit2x hard fork, spil it cleared the future of bitcoin from uncertainty. However, the bitcoin market and the majority of investors began to scare spil Bitcoin Metselspecie overtook Ethereum shortly te terms of market valuation.
A fairly large number of investors claimed that the market has switched overheen to Bitcoin Metselspecie, following the hash rate. However, that has certainly not bot the case, spil hash rate tends to go after the more profitable blockchain. At the ogenblik, Bitcoin Metselspecie is substantially more profitable to mine due to its difficulty level. When the next difficulty adjustment occurs on both the bitcoin and Bitcoin Specie networks, it is likely that a large portion of hash rate which left the bitcoin network will terugwedstrijd to bitcoin.
If miners choose to mine at a loss to stay on the Bitcoin Metselspecie network, however unlikely that situation is, upon the next bitcoin difficulty adjustment, mining pools like Slush Pool will proceed to maintain the bitcoin network and eventually, the size of the bitcoin mempool will decrease spil unconfirmed transactions become cleared.
Evidently, there exists uncertainty around the future of bitcoin, Bitcoin Contant, and frankly, the entire cryptocurrency market. It is positive that existing bitcoin miners and mining pools like Slush Pool are continuing to devote their resources to maintain the bitcoin network healthy and confirming transactions for the community and the industry.