An Unknown Miner Commands More Than 51% of BSV’s Hashpower, Consecutive Strings of Empty Blocks Makes Chain Unreliable

A azygous miner has managed to overtake a ample information of the Bitcoinsv (Bitcoin Satoshi’s Vision) blockchain capturing much than 80% of the hashrate connected October 17. Today, the chartless miner’s hashpower commands astir 54% of the Bitcoinsv’s computational powerfulness and during the past 7 days, the stealth miner captured 64.5%.

Unknown Hashpower Captured 64% of the Bitcoinsv Chain During the Past 7 Days, Empty BSV Blocks Renders Chain Useless astatine Times

Bitcoinsv (BSV) has been dealing with an chartless miner trolling the task by mining bare blocks, and capturing a large bulk of hashpower. Statistics from Coin Dance bespeak that the miner captured 80% of the hashrate betwixt October 17 and 18, 2022.

Interestingly, the chartless miner took implicit the blockchain’s hashrate during the defamation proceedings betwixt Craig Wright, the antheral who claims to beryllium Satoshi Nakamoto, and the pseudonymous Bitcoiner Hodlonaut. Wright mislaid the suit and Hodlonaut was acquitted of each claims related to the defamation case.

The self-proclaimed Satoshi, different known arsenic Craig Wright, was besides ordered to wage $348,257 to compensate Hodlonaut’s tribunal expenses. While the tribunal lawsuit was not yet decided, the chartless miner ramped up its hashrate efforts a fewer days earlier the suit ended.

Coin Dance stats connected Saturday, October 23, 2022. 24-hour metrics shows the stealth miner commands astir 54% of the Bitcoinsv’s computational powerfulness and much than 64% during the past week.

Instead of mining blocks with tens of thousands of transactions, the miner chose to excavation near-empty blocks making the blockchain unusable for agelong periods of time. The BSV miner leverages the BSV code “1KPST” and to day the miner has managed to excavation 31,111 BSV.

While penning this article, astatine 8:30 a.m. (ET), the chartless BSV miner captured the past six blocks and each artifact subsidy has lone 1 transaction (Block 762,740 to Block 762,745). The caller onslaught against BSV is not the blockchain’s archetypal rodeo with a malicious miner trolling the project.

Bitcoinsv (BSV) has astir 321 petahash per 2nd (PH/s) of SHA256 hashrate, which means it has astir 15-20 megawatts of power. Between October 17 and 18, the chartless miner captured 80% of BSV’s hashrate.

Bitcoinsv Was Attacked Last Year and Suffered a 100-Block Reorganization

In mid-July 2021, crypto exchanges halted BSV deposits aft 78% of the BSV hashrate was captured that month. During the archetypal week of August 2021, the web was brought to its knees erstwhile a miner 51% attacked the Bitcoinsv chain. On Tuesday, August 3, 2021, the BSV web endured a 100 artifact reorg “wiping retired 570K transactions,” according to the laminitis of Blockchair, Nikita Zhavoronkov.

On October 17, 2022, erstwhile the chartless miner captured astir 80% of the network, the enactment down the BSV task called the Bitcoin Association, said that it planned to instrumentality action against the stealth miner.

“Bitcoin Association is taking enactment to interaction each applicable exchanges and miners to frost each artifact rewards associated with this malicious miner and volition beryllium pursuing transgression charges against the entity/entities responsible,” the Bitcoin Association wrote.

The Bitcoin Association’s (BA) connection further notes that it has been tracking the miner for months, and the accrued beingness has caused “network problems for honorable miners and businesses that interact” with the Bitcoinsv network.

In the aforesaid blog station update, BA insists that “producing an bare artifact is not inherently a dishonest enactment per the rules acceptable distant successful the whitepaper.” The aforesaid day, BA besides tweeted retired an article hosted connected bitcoinsv.com that claims “mining bare blocks hurts the Bitcoin network.”

On October 23, the autochthonal crypto plus bitcoinsv (BSV) is down 3% successful worth against the U.S. dollar and 1.8% against bitcoin (BTC). Year-to-date, the token BSV has mislaid 72.7% against the greenback and BSV is 90.5% down from the all-time precocious recorded connected April 16, 2021.

During the past 24 hours, BSV has seen $25.19 cardinal successful planetary commercialized measurement and a large woody of trades stem from South Korea. The Korean won contiguous represents 46.68% of BSV’s planetary trading pairs according to cryptocompare.com data. Tether (USDT) is BSV’s second-largest trading brace with 35.69% of each BSV trades, followed by usd coin (USDC) with 8.45% of BSV swaps.

What bash you deliberation astir the chartless miner connected the BSV concatenation mining a monolithic magnitude of bare artifact subsidies? Let america cognize your thoughts astir this taxable successful the comments conception below.

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