An unknown bcash miner apparently now controls 50% of its hash rate.

After looking deeper into this issue, there is enormous cause for concern as the entity in question on the Bitcoin Cash blockchain essentially has full control over the chain at this point in time.

What’s concerning is not just the fact that this address is dominating in terms of % of blocks found/won, it is also finding blocks at an absurd rate. Between 11 a.m. – 1 p.m. UTC today, this entity found 24 (TWENTY FOUR) blocks. That’s absurd.

$BCH has a different retargeting algorithm than $BTC (diff formula), but they are both still designed to manufacture adjusting difficulties that target a consistent 10-minute block time.

Thus, on average, there should be 6 blocks/hour found. However, with this entity finding 24 blocks in a 2-hour time span, it is not only beating out the entire network, its pretty much ‘broken’ the retargeting algorithm for $BCH. This is not good.

Checking, we can see that this entity (going as ‘unknown’ since they aren’t signing any blocks) has won the last 8/14 blocks.

Between this entity &, no one else has won a block on the protocol (besides BTCC) since block 606283

Spoke w Amaury Sechet & other devs in the $BCH ecosystem. They are aware of the problem. There’s nothing that they can realistically do about the situation since its out of their hands.

It is strongly recommended that users avoid transacting on or with $BCH at any and all costs until this issue is resolved.’

What do you think?

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