Miner collusion refers to a scenario where a group of cryptocurrency miners cooperates to manipulate the blockchain for their collective benefit, often at the expense of other network participants. This could involve withholding blocks, censoring transactions, or executing 51% attacks. Such actions undermine the decentralized and fair operation of a proof-of-work blockchain. It represents a significant threat to network integrity and user trust.
Context
The risk of miner collusion is a persistent concern for proof-of-work blockchains, particularly those with concentrated mining power. News frequently covers discussions around mining pool centralization and potential vulnerabilities this creates. Protocol upgrades and changes to consensus mechanisms, such as the shift to proof-of-stake, are often presented as solutions to mitigate these risks.
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