Recently, transaction fees on the Bitcoin network have experienced an unprecedented drop, from the previous high of 1,000 sats per day to only 2 sats per day. This significant change has directly impacted the living conditions of miners. As one of the main sources of income for miners, the sharp drop in handling fees has forced many small and medium-sized miners to face a crisis of survival, and even triggered a wave of shutdowns. As the concentration of computing power intensifies, decentralization, the security cornerstone of the Bitcoin network, is facing severe tests, especially the risk of 51% attacks that are quietly rising.

The shadow of 51% attack looms: challenges and concerns

A 51% attack, the nightmare of Bitcoin, refers to a single entity or alliance controlling more than 50% of the computing power of the entire network, thus being able to tamper with blockchain records, including revoking completed transactions. Although such attacks are costly to carry out, their potential threat cannot be ignored in the current context of a sharp drop in miners' income and uneven distribution of computing power.

The innovative response of the Bitcoin par value community: incentivizing small and medium-sized miners and dispersing computing power

Faced with this crisis, the Bitcoin community stepped forward and proposed an innovative solution. The community directly incentivized small and medium-sized mining pools and miners by implementing a reward mechanism, aiming to slow down the shutdown trend by increasing their income, thereby promoting the even distribution of computing power. This measure not only effectively alleviated the economic pressure on miners, but also fundamentally reduced the risk of 51% attacks.

Technological innovation and community cooperation go hand in hand

The application parvalue.ai of the BitParity community has been successfully launched. The application directly increases the income of miners through the block matching reward mechanism. In the future, the community will also explore the pledge mining model under the POS (Proof of Stake) mechanism, directly contributing to the handling fee on the Bitcoin blockchain to mine Bitcoin Parity. This model is only open to early whitelist addresses, further promoting the healthy development of the mining ecosystem.

At the same time, mining giants have also responded by optimizing operations, reducing costs, and adopting more efficient mining hardware to jointly cope with the current industry difficulties. Jinshan Mining and other companies are actively cooperating with the BitNumber community to increase the overall income of miners through multi-dimensional cooperation, demonstrating the unity and cooperation among the industry.

Outlook: Technological innovation and cooperation build a safe future

Although Bitcoin mining is currently facing many challenges, the Bitcoin community and its members have demonstrated strong resilience and innovation. Through technological innovation, mechanism optimization, and in-depth cross-field cooperation, the Bitcoin network is gradually building a more solid security line of defense to resist potential 51% attack threats.

The future of Bitcoin mining is full of uncertainties and opportunities, but it is these challenges that drive the continuous progress and development of the entire industry. With the convergence and efforts of all parties, the security and stability of the Bitcoin network will be more firmly guaranteed. #BTC