No Threat of Centralization: How Exchanges View the Mining Industry

No Threat of Centralization: How Exchanges View the Mining Industry | Crypto Briefing

Coinbase, Kraken and other cryptocurrency exchanges are taking positions on proof-of-work consensus and Bitcoin mining. Despite criticisms against proof-of-work, they argue there is little risk of centralization-induced attacks. Proof-of-work is one of Bitcoin’s core features which allows to reach consensus and keep the blockchain secure. Miners are responsible for finalizing transactions and generating new Bitcoins.