{"id":4187,"date":"2023-05-01T19:10:54","date_gmt":"2023-05-01T23:10:54","guid":{"rendered":"http:\/\/leadingcryptonews.com\/bitcoin-hash-rates-threaten-blockchain-decentralization\/"},"modified":"2023-05-01T19:10:54","modified_gmt":"2023-05-01T23:10:54","slug":"bitcoin-hash-rates-threaten-blockchain-decentralization","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/bitcoin-hash-rates-threaten-blockchain-decentralization\/","title":{"rendered":"Bitcoin hash rates threaten blockchain decentralization"},"content":{"rendered":"


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Blockchain technology was introduced in 2008 as a decentralized, secure, transparent system for managing digital transactions. Its primary aim was to provide a solution to major problems with traditional transactional systems, including trust, security, decentralization and efficiency. Blockchain has since expanded beyond finance and has been used in supply chain management, healthcare, games, digital media and social media, among others.\u00a0<\/p>\n

However, the blockchain industry is still facing significant challenges \u2014 such as a lack of diversity, wealth control by a few holders, hash rate problems and a loss of the promise of decentralization.<\/p>\n

Hash rate and why it\u2019s a problem<\/h2>\n

The cryptocurrency on everyone\u2019s mind \u2014 and in the digital wallets of more than 400 million people around the world \u2014 is Bitcoin (BTC). Bitcoin\u2019s hash rate is the computing power required to validate transactions and produce new blocks on the Bitcoin blockchain. A high hash rate is necessary to maintain the integrity of the Bitcoin network, but it also presents some significant challenges. <\/p>\n