Chinese cryptocurrency company Bitmain, which makes mining hardware and supports efforts to increase the scalability of the Bitcoin network, received the necessary votes to become an EOS signatory on Tuesday. This will allow her to receive compensation for confirming transactions on the EOS blockchain to maintain the health of the network.
The representative of Bitmain on the network will be the EOS AntPool mining pool - one of the largest subsidiary mining pools of the company. In addition, the company has another large pool BTC.com and a small pool ViaBTC. Collectively, these three pools account for nearly 50 percent of the BTC blocks mined in the last week, so with this level of centralization, Bitmain has found itself in the spotlight in many cryptocurrency circles.
Although Bitmain does not have much influence in the EOS ecosystem, centralization is The EOS network is still present.
In addition to the fact that the network is structured in such a way that the number of developers is limited to 21 companies, the voting itself may become too centralized if the creator of EOS, Block.one, begins to participate in choosing the pools that process blocks. In addition to raising over $4 billion through the project's token sale, the company received $100 million of the $1 billion in tokens created during the pre-mine process.
As such, Bitmain's elevation to an active member of the EOS network is surprising. At the time of writing, EOS AntPool is ranked 11th in voting, which will allow it to earn 845 EOS (~$7,300 at current exchange rates) per day, or about $2.7 million per year.
This is not a small amount, but it should be considered in a larger context. According to Bitmain's reports, its revenue for 2017 was $2.5 billion. The funding round, which closed in June, valued the company at $12 billion, and the company plans to go public later this year, valuing itself at $40 billion.
Notably, Bitmain is not the only controversial cryptocurrency company that EOS users have chosen to be one of the 21 block producers. Cryptocurrency Bitfinex exchange, closely associated with the issuer of Tether cryptocurrency now ranks first in the ranking of those who support the EOS blockchain. The company currently earns 1020 EOS (~$9,000) per day, which is approximately $3.3 million per year.
According to ccn.com
You May Also Like
Mining company NiceHash paid users 60% of stolen assets
The Slovenian company NiceHash suffered a hacker attack in December, during which a wallet containing 4,700 Bitcoins, which at that time was worth about $59 million, was hacked.
Coinmine will release a miner for beginners
The Coinmine company enters the mining equipment market with the unexpected concept of “bringing mining to the masses!” Operating as a platform since August 2013, Coinmine’s service for joint mining of altcoins with a large selection of coins for every taste and for any equipment has become quite popular.
