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Proof of work (POW) cryptocurrencies are secure because they are decentralize by their design.
But, if they become centralized because everyone connects their miners to the same pool, the network is no longer decentralize, and thus what makes a POW cryptocurrency secure, is no longer as secure.
70% of KDA miners hashrates are on Poolflare, which means KDAās network is centralized via Poolflare.
A 51% attack is possible with any POW cryptocurrency if the network is centralized above or at 51%. A 51% attack can alter transaction on the KDA network. Meaning KDA sitting in your wallet could be made void if a 51% attack occurs. Everyone is at risk no matter where your KDA is stored if a 51% attack occurs.
Although still not easy to do, a 51% attack is a possibility for KDA at this present time.
Any knowledgeable investor looking to invest in KDA knows this. The centralized KDA network at the moment is one reason big investors are not investing yet in KDA.
There are a lot of new miners getting started with KDA and donāt know better. Plus KDA miners are extremely expensive, and people want their ROI. Plus there are limited of great KDA pools to choose from. Hence the reason everyone is on Poolflare.
We are trying out hashpool to see if they are a healthy pool or not. Which leads to another topic, on how hashrates effects variance in luck. Basically the more hashrates = less variance of luck = faster to be able to tell if Hashpool is a good pool or not.
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I get thatā¦ but why hashpool? Why not DxPool or f2pool? Hash pool is 1 of 3 not named poolflare and it hardly has anyone on it.
Dxpool is already known to be healthy. But their servers are located in Asia, and there are issues with high rejections for those located in USA.
So Dxpool is good to go as long as you get low rejection ratings.
Plus Dxpool has enough hashrates for people to get results fast. Less luck varianceā¦
Hashpool has very low hashrates. With lots of luck variance. Takes a long time to get resultsā¦
Hashpool has never really been tested because of its low hashrates. Not a lot of data out there. Which is why we are trying them out.
If hashpool turns out good than we can use the data to convince other miners to switch.
If hashpool turns out bad, we can use the data to communicate the issues to hashpool and hope they fix the issues and improve.
Either way it helps KDA as a whole.
We have nothing against Dxpool or Poolflare. We just want to fully explore all our options.
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F2pool currently does not support K address. Which is a security concernā¦.
Both Dxpool and F2pool have high feeās compared to poolflare.
Hashpool has low fees. So initially it had potential. But weāre finding out that KD5s have a similar rejection issue with Hashpool like Dxpool. KD boxes with firmware 2.1.1 seem to do good on Hashpool.
So the only thing left is to determine average payout, which with the low hashrates, means itās going to take time to figure this out.