The recent Coinbase decision is a red alert for the zcash network. POW+ASICS failed to decentralize the mining hashrate.
POS is now vital.
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Imo, POS is more centralized than POW because exchanges, funds and staking pools hold the majority of coins. They typically end up proposing most of the blocks.
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So you’re saying the fact that one entity controls 51% of the hash is not that big of a security issue at all? This now puts Zcash network at risk of attack.
There has never been any verified instances of a single entity or group controlling more than 51% of the total hash power of the Bitcoin network. This is a fundamental security concern for blockchain networks like Bitcoin, as a majority control of hash power could potentially lead to centralization and undermine the network’s integrity.
Zcash security relies on its decentralized nature… The 51% attack scenario involves a miner or group of miners controlling over 50% of the network’s computational power, which would give them the ability to potentially double-spend coins, block or reverse transactions, and disrupt the network’s normal operation. This is now possible with viaBTC controlling 51% of Zcash network.
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I am not saying this at all.
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Partially true, but most of the blocks will be < 51%