Ghash.io was launched in July 2013 and in 2014 gained some notoriety through its success: In June, it briefly gained control of 51% of the entire bitcoin network.
This majority control is arguably the biggest threat to bitcoin, and
demonstrates the power of miners when they get too large — it could have
rewritten the blockchain however it saw fit, potentially unstabilising
the network in the process.
Since then, its hash power has dropped off: It now sits at below 1%. Londoner Jeffrey Smith, the company's CIO, acts most frequently as its spokesperson. It also operates Cex.io, a bitcoin exchange.
Since then, its hash power has dropped off: It now sits at below 1%. Londoner Jeffrey Smith, the company's CIO, acts most frequently as its spokesperson. It also operates Cex.io, a bitcoin exchange.
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