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 <p class="is-style-lead">Coinbase changed the Zcash confirmation requirement to 110 blocks, increasing deposit time from 40 minutes to 2.5 hours.</p> 
 <p>Crypto exchange Coinbase has limited trading with Zcash (ZEC) after it found that a single mining pool now controls more than 50% of Zcash’s hash power.</p> 
 <p>In a blog post on Sept. 15, Coinbase said it increased the number of network confirmations required for processing deposits and moved our ZEC trading markets into a limit-only mode to reduce the impact of any volatility.</p> 
 <p>Now, Coinbase waits for 110 blocks to be confirmed by the network, which means users would have to wait about 2.5 hours to deposit ZEC into the exchange.</p> 
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   Block distribution in Zcash | Source: MiningPoolStats
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 <p>According to data from MiningPoolStats, ViaBTC is now controlling 53% of the Zcash hashing power, while unknown entities control 18.3% and AntPool — 12.2%. Coinbase says it has reached out to Electric Coin Company (ECC), the team behind Zcash, and ViaBTC to reduce the risks of an attack against the network.</p> 
 <blockquote class="wp-block-quote"> 
  <p>“We shared our concerns around the <a rel="dofollow" title="risks" href="https://thebittimes.com/tag/risks.html">risks</a> of mining centralization and provided recommendations for various options that either party could implement to reduce the risk of a 51% <a rel="dofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>.”</p> <cite>Coinbase</cite>
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 <p>It is viewed as a mortal threat to the concept of decentralization. To launch a 51% <a rel="dofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>, a person must control most of a network’s mining power and use that power to alter recorded transactions. However, large cryptocurrencies like Bitcoin (BTC) are incredibly difficult to <a rel="dofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a> because of the resources and hardware it would take.</p> 
 <p>As of press time, neither ECC nor ViaBTC made any public statements. Once a single miner or mining pool gets over 51% of the network’s hash power, it posts <a rel="dofollow" title="risks" href="https://thebittimes.com/tag/risks.html">risks</a> of the so-called 51% <a rel="dofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/coinbase-limits-zcash-trading-as-viabtc-poses-risks-of-51-attack-tbt63057.html">https://thebittimes.com/coinbase-limits-zcash-trading-as-viabtc-poses-risks-of-51-attack-tbt63057.html</a></p>

Coinbase limits Zcash trading as ViaBTC poses risks of 51% attack

TheBitTimes

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