#Opinion.
Bitcoin hash rates threaten blockchain decentralization
One of the most pressing issues is the high energy consumption required to maintain a high hash rate. As more miners join the network, the hash rate increases — and so does the energy consumption required to sustain it.
Another challenge with Bitcoin’s hash rate is the centralization of mining power in a few large mining pools.
There is also the potential for 51% attacks by mining pools that control the majority of the hash rate. If a single mining pool or a group of mining pools controls over 50% of the hash rate, they could potentially control the network and carry out malicious activities.
Finally, the limited scalability of the Bitcoin network is another challenge associated with its hash rate. As more users join the network and the number of transactions increases, the network can become congested, leading to slow transaction times and high fees.
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