Blockchain Recent Trends

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We've gathered the latest news on blockchain.

#1. [No, Concentration Among Miners Isn’t Going to Break Bitcoin]

A recent TokenAnalyst report claims a single entity could be in control of around 50 percent of bitcoin’s hashrate.
The observation is based on the fact that five large mining pools have launched a new cloud mining service as a joint venture.

Mining concentration is inevitable. Mining concentration is also harmless as attacks on bitcoin incur an opportunity cost that
scales with the amount of hash power an attacker controls. An attacker with a lot of hash power would incur a large cost.
As a result, the system ensures miners with more control have a stronger vested interest in its protection as well.

Sources : Hasu/Coindesk
https://www.coindesk.com/no-concentration-among-miners-isnt-going-to-break-bitcoin

#2. [SEC Rejects Latest Bitcoin ETF Bid]

The U.S. Securities and Exchange Commission (SEC) rejected
Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).

SEC Commissioner Hester Peirce, known as "crypto mom" in the space, published a dissent, writing that the
agency applies a "heightened standard" to bitcoin products. As an example, she said the SEC had not required

Sources : Nikhilesh De/Coindesk
https://www.coindesk.com/sec-rejects-latest-bitcoin-etf-bid

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