BMG Pool and Coingeek manage more than 50% of the Bitcoin Cash network hash

Mining of the Bitcoin Cash crypto currency goes to a new level, given that the mining pools of Coingeek and BMG Pool have established control over more than 50% of the total network hash.

According to the source, at some points, the total hash capacity of both pools reached 58 percent.

It should be noted that BMG Pool belongs to the well-known businessman Craig Wright, and the owner of Coingeek is Kelvin Ayre, no less famous person in the crypto-currency industry, which maintains friendly relations with Wright.

In this situation, when two large enough pools own most of the hash power of Bitcoin Cash, it is impossible to exclude the possibility of 51% attack on the network.

Such an alignment of events can lead to the appearance of double spending, and, therefore, cause the stock exchanges to increase the volume of transaction confirmations.

If you look at the other side, the situation may seem like a simple demonstration of the influence and capabilities of Craig Wright within the Bitcoin Cash network. It's no secret that the BCH crypto currency is the fork of Bitcoin. And as a result of the disagreements between the development teams, the network is approaching the same outcome of events and, soon, will be divided into two separate Blockchain. Given the current state of affairs, Wright's influence on the Bitcoin Cash network is his main advantage.

Let us recall that earlier the Binance exchange announced the launch of the Fiat-Crypto-currency trading platform in Singapore.