Top Mining Pools Inside The Bitcoin Network

The community surrounding Bitcoin is rarely heard commenting and worrying about the eventual centralization of the network. Bitcoin mining has since considered ASICs as the basic in the system and from then on many of the individuals as well as small groups that are interested in Bitcoin mining has stopped their efforts to mine knowing it is futile considering the gain they will get.

A magazine has published recently an article that details what the state of the hashing power in the entire Bitcoin network in terms of distribution and listed all the large mining pools that are on the top of the digital currency mining. According to the article, there are 18 mining pools and they have listed the corresponding owning percentage that each of them has in the Bitcoin network. It was not a surprise that more and more groups and companies are setting their eyes on the digital currency since it has grown considerably in the last number of years. There are even data suggesting that the total number of users that are listed on Blockchain.info is now around 8 million members. This is higher than the expected number of members when 2019 comes which is only set at around 5 million users.

DiscusFish or F2Pool leads the mining pool list with 22.06 per cent of hashing power, Antpool with 16.82 per cent, BW Pool with 15.33 per cent, BTCC with 14.34 per cent and BitFury with 8.61 per cent. BitClub Network, Slush, HaoBTC, KnCMiner and Kano CKPool are the top 6 to 10 on the list with 4.15, 4.15, 3.66, 3.26 and 2.77 per cent respectively. An unknown mining pool on the eleventh spot has 2.37 per cent of hashing power while 1hash has 0.79 per cent, Telco 214 with 0.69 per cent, GHash.io and Eligius both have 0.3, BitMiner with 0.2 per cent, Eobot and P2Pool.Org with 0.1 per cent each. The 18 mining pools on the list have the total of 100 per cent of the hashing power.

One might be wondering what are Bitcoin mining pools – they are a pool or group mining Bitcoins together by combining their resources as well as their hashing power.