A unmarried miner has controlled to overhaul a big portion of the Bitcoinsv (Bitcoin Satoshi’s Imaginative and prescient) blockchain taking pictures greater than 80% of the hashrate on October 17. Nowadays, the unknown miner’s hashpower instructions round 54% of the Bitcoinsv’s computational energy and all through the remaining seven days, the stealth miner captured 64.5%. Unknown Hashpower Captured 64% […]
A unmarried miner has controlled to overhaul a big portion of the Bitcoinsv (Bitcoin Satoshi’s Imaginative and prescient) blockchain taking pictures greater than 80% of the hashrate on October 17. Nowadays, the unknown miner’s hashpower instructions round 54% of the Bitcoinsv’s computational energy and all through the remaining seven days, the stealth miner captured 64.5%.
Unknown Hashpower Captured 64% of the Bitcoinsv Chain All through the Previous 7 Days, Empty BSV Blocks Renders Chain Pointless at Instances
Bitcoinsv (BSV) has been coping with an unknown miner trolling the mission by means of mining empty blocks, and taking pictures a really perfect majority of hashpower. Statistics from Coin Dance point out that the miner captured 80% of the hashrate between October 17 and 18, 2022.
Curiously, the unknown miner took over the blockchain’s hashrate all through the defamation trial between Craig Wright, the person who claims to be Satoshi Nakamoto, and the pseudonymous Bitcoiner Hodlonaut. Wright misplaced the lawsuit and Hodlonaut was once acquitted of all claims associated with the defamation case.
The self-proclaimed Satoshi, another way referred to as Craig Wright, was once additionally ordered to pay $348,257 to compensate Hodlonaut’s court docket bills. Whilst the court docket case was once now not but made up our minds, the unknown miner ramped up its hashrate efforts a couple of days ahead of the lawsuit ended.
As a substitute of mining blocks with tens of hundreds of transactions, the miner selected to mine near-empty blocks making the blockchain unusable for lengthy classes of time. The BSV miner leverages the BSV deal with “1KPST” and thus far the miner has controlled to mine 31,111 BSV.
Whilst writing this text, at 8:30 a.m. (ET), the unknown BSV miner captured the remaining six blocks and each and every block subsidy has just one transaction (Block 762,740 to Block 762,745). The new assault towards BSV isn’t the blockchain’s first rodeo with a malicious miner trolling the mission.
Bitcoinsv Used to be Attacked Final 12 months and Suffered a 100-Block Reorganization
In mid-July 2021, crypto exchanges halted BSV deposits after 78% of the BSV hashrate was once captured that month. All through the primary week of August 2021, the community was once delivered to its knees when a miner 51% attacked the Bitcoinsv chain. On Tuesday, August 3, 2021, the BSV community endured a 100 block reorg “wiping out 570Ok transactions,” in line with the founding father of Blockchair, Nikita Zhavoronkov.
On October 17, 2022, when the unknown miner captured round 80% of the community, the group at the back of the BSV mission known as the Bitcoin Affiliation, mentioned that it planned to take action towards the stealth miner.
“Bitcoin Affiliation is taking motion to touch all related exchanges and miners to freeze all block rewards related to this malicious miner and will likely be pursuing felony fees towards the entity/entities accountable,” the Bitcoin Affiliation wrote.
The Bitcoin Affiliation’s (BA) message additional notes that it’s been monitoring the miner for months, and the higher presence has brought about “community issues for truthful miners and companies that engage” with the Bitcoinsv community.
In the similar weblog submit replace, BA insists that “generating an empty block isn’t inherently a unethical act consistent with the foundations set forth within the whitepaper.” The similar day, BA additionally tweeted out an article hosted on bitcoinsv.com that says “mining empty blocks hurts the Bitcoin community.”
On October 23, the local crypto asset bitcoinsv (BSV) is down 3% in price towards the U.S. greenback and 1.8% towards bitcoin (BTC). 12 months-to-date, the token BSV has misplaced 72.7% towards the dollar and BSV is 90.5% down from the best-ever prime recorded on April 16, 2021.
All through the remaining 24 hours, BSV has noticed $25.19 million in world industry quantity and quite a lot of trades stem from South Korea. The Korean received these days represents 46.68% of BSV’s world buying and selling pairs in line with cryptocompare.com data. Tether (USDT) is BSV’s second-largest buying and selling pair with 35.69% of all BSV trades, adopted by means of usd coin (USDC) with 8.45% of BSV swaps.
What do you consider the unknown miner at the BSV chain mining a large quantity of empty block subsidies? Tell us your ideas about this matter within the feedback phase underneath.
