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26 October 2020

The OKEx Drama Exposes a Weakness in Crypto Market Infrastructure - CoinDesk

The OKEx Drama Exposes a Weakness in Crypto Market Infrastructure - CoinDesk


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Overall, the event highlighted that the crypto asset ecosystem is about so much more than bitcoin.

TAKEAWAY: Remember the Bitcoin halving, just five months ago, when the miner subsidy of new bitcoin was cut by 50% and some predicted that mining would become unprofitable for many.

This would then theoretically weaken the network’s security by centralizing mining power in the hands of a few large pools that could enjoy economies of scale.

It also shows that the network’s security depends on more factors than just the bitcoin price (which determines the value of the miner subsidies) – technological changes also matter.

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