Bitcoin transaction finality delayed by mining centralization, developer warns

Bitcoin Core developer Luke Dashjr claims Bitcoin transaction finality now takes over a week due to mining centralization, far exceeding the traditional six-block confirmation rule. He attributes this to Antpool’s significant control of the network hash rate, estimated at 16.67%, though he suggests its influence may be higher through proxies like Braiins. Dashjr states that achieving 95% transaction security now requires over 800 blocks—about 5.5 days—raising concerns about Bitcoin’s resistance to censorship and immutability. Industry experts warn this centralization could expose the network to censorship risks or even a 51% attack. Some suggest redistributing hash power across smaller pools, while others, like Iris Energy’s co-founder, believe the issue will self-correct over time, CryptoSlate reported.