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Ghash / CEX Scaling Back Mining Pool

Last Updated March 4, 2021 4:45 PM
P. H. Madore
Last Updated March 4, 2021 4:45 PM

This time last year, CEX.io and its Ghash.io were a force to be reckoned with.

The company had achieved nearly 51% of Bitcoin mining, albeit not directly but through the use of a pool. While allegations never were too loudly amplified that the company would use the power to conduct 51% attacks against the Bitcoin network, many were concerned about the decentralization of mining.

The company was also the target of DDoS attacks as a result of its unapologetic approach to centralizing hashing power.

Over the course of this year, however, the company has dropped off in importance, at least in terms of mining. When prices fell too low, the company stopped its mining altogether, for fear that not enough blocks would be found to cover operating costs. It has yet to renew its mining, but all the while its exchange has been operational.

Yesterday, CEX.io, the exchange portion, sent an e-mail blast to users informing them of some changes to come in the platform. First, mining of DevCoin and IX Coin will cease December 1st. Second, numerous alternative cryptocurrencies are being removed from the exchange side as a result of the Multipool closing on the same day.

[T]he following altcoins will be removed from CEX.IO exchange: IXC, DVC, POT, ANC, MEC, WDC, FTC, DGB, USDE, MYR, AUR.

The company is giving users until the 15th of December to remove coins in those currencies, or exchange them for one of the currencies that will still be traded there: BTC, NMC, LTC, DOGE, and DRK.

Featured image from Shutterstock.