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Cryptoflation
(lemmy.world)
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this post was submitted on 04 Dec 2023
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Unfortunately that's the issue. Only a small amount of miners are the ones making a significant dent in mining. Consumer hardware cannot compete with the corporations with large asic mining warehouses, especially ones run by governments and large corporations. This leads to further centralization due to the high barrier of entry and makes the blockchain susceptible to manipulation and things like a 51 percent attack.