Home / Tether News /An Unknown Miner Commands More Than 51% Of BSV’s Hashpower, Consecutive Strings Of Empty Blocks Makes Chain Unreliable

An Unknown Miner Commands More Than 51% Of BSV’s Hashpower, Consecutive Strings Of Empty Blocks Makes Chain Unreliable

23 Oct 2022

During the last week, non-fungible token (NFT) sales volume has managed to climb 1.9% higher than the week prior with $85 million in NFT sales in seven days. However, the number of NFT buyers slid by 12.63%, and the number of NFT transactions is down 19.19% on October 23, 2022.

While NFT sales are a lot lower than they were a few months ago, this past week with $85,068,480 in sales volume according to cryptoslam.io, NFT sales are up 1.9%. The top collection this week selling the most NFTs stemmed from Sorare as the Ethereum-based project saw $8.5 million in sales.

Bored Ape Yacht Club (BAYC) reigned in the second position in terms of seven-day sales, raking in $6.69 million. Besides Sorare and BAYC, Gods Unchained, Azuki, and Cryptopunks hold positions in this week’s top five-selling NFT collections.

Ethereum commands the most sales out of 17 blockchains listed on cryptoslam.io. The Ethereum (ETH) network recorded $64.48 million out of the aggregate $85 million in NFT sales this past week. ETH-based NFT sales increased this week by 10.7% higher than last week’s ETH-based NFT sales.

Alongside ETH, Solana, Immutable X, Flow, BNB, and Ronin command the top five positions in terms of NFT sales per blockchain. Immutable X NFT sales climbed 79.88% higher than the week prior while Solana NFT sales slipped 29.13% lower than last week.

The most expensive NFT sale this past week was Digidaigaku #1632 – Ifrit, which sold for $262K four days ago, and the second most expensive NFT sales was V1 PUNK #6915, which sold for $236K. V1 PUNK #6915 was followed by Azuki #1582, Bored Ape #3429, and Bored Ape #8477 respectively.

Nftpricefloor.com stats show that the most expensive floor value today is from the BAYC collection followed by the Cryptopunks collection. BAYC and Cryptopunks are followed by Mutant Ape Yacht Club (MAYC), The Sandbox, and Autoglyphs respectively. At the time of writing the most inexpensive BAYC today is 71.69 ETH or $93,986.

What do you think about the last seven days of NFT sales? Let us know your thoughts about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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During the last week, non-fungible token (NFT) sales volume has managed to climb 1.9% higher than the week prior with $85 million in NFT sales in seven days. However, the number of NFT buyers slid by 12.63%, and the number of NFT transactions is down 19.19% on October 23, 2022.

While NFT sales are a lot lower than they were a few months ago, this past week with $85,068,480 in sales volume according to cryptoslam.io, NFT sales are up 1.9%. The top collection this week selling the most NFTs stemmed from Sorare as the Ethereum-based project saw $8.5 million in sales.

Bored Ape Yacht Club (BAYC) reigned in the second position in terms of seven-day sales, raking in $6.69 million. Besides Sorare and BAYC, Gods Unchained, Azuki, and Cryptopunks hold positions in this week’s top five-selling NFT collections.

Ethereum commands the most sales out of 17 blockchains listed on cryptoslam.io. The Ethereum (ETH) network recorded $64.48 million out of the aggregate $85 million in NFT sales this past week. ETH-based NFT sales increased this week by 10.7% higher than last week’s ETH-based NFT sales.

Alongside ETH, Solana, Immutable X, Flow, BNB, and Ronin command the top five positions in terms of NFT sales per blockchain. Immutable X NFT sales climbed 79.88% higher than the week prior while Solana NFT sales slipped 29.13% lower than last week.

The most expensive NFT sale this past week was Digidaigaku #1632 – Ifrit, which sold for $262K four days ago, and the second most expensive NFT sales was V1 PUNK #6915, which sold for $236K. V1 PUNK #6915 was followed by Azuki #1582, Bored Ape #3429, and Bored Ape #8477 respectively.

Nftpricefloor.com stats show that the most expensive floor value today is from the BAYC collection followed by the Cryptopunks collection. BAYC and Cryptopunks are followed by Mutant Ape Yacht Club (MAYC), The Sandbox, and Autoglyphs respectively. At the time of writing the most inexpensive BAYC today is 71.69 ETH or $93,986.

What do you think about the last seven days of NFT sales? Let us know your thoughts about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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A single miner has managed to overtake a large portion of the Bitcoinsv (Bitcoin Satoshi’s Vision) blockchain capturing more than 80% of the hashrate on October 17. Today, the unknown miner’s hashpower commands around 54% of the Bitcoinsv’s computational power and during the last seven days, the stealth miner captured 64.5%.

Bitcoinsv (BSV) has been dealing with an unknown miner trolling the project by mining empty blocks, and capturing a great majority of hashpower. Statistics from Coin Dance indicate that the miner captured 80% of the hashrate between October 17 and 18, 2022.

Interestingly, the unknown miner took over the blockchain’s hashrate during the defamation trial between Craig Wright, the man who claims to be Satoshi Nakamoto, and the pseudonymous Bitcoiner Hodlonaut. Wright lost the lawsuit and Hodlonaut was acquitted of all claims related to the defamation case.

The self-proclaimed Satoshi, otherwise known as Craig Wright, was also ordered to pay $348,257 to compensate Hodlonaut’s court expenses. While the court case was not yet decided, the unknown miner ramped up its hashrate efforts a few days before the lawsuit ended.

Instead of mining blocks with tens of thousands of transactions, the miner chose to mine near-empty blocks making the blockchain unusable for long periods of time. The BSV miner leverages the BSV address “1KPST” and to date the miner has managed to mine 31,111 BSV.

While writing this article, at 8:30 a.m. (ET), the unknown BSV miner captured the last six blocks and each block subsidy has only one transaction (Block 762,740 to Block 762,745). The recent attack against BSV is not the blockchain’s first rodeo with a malicious miner trolling the project.

In mid-July 2021, crypto exchanges halted BSV deposits after 78% of the BSV hashrate was captured that month. During the first week of August 2021, the network was brought to its knees when a miner 51% attacked the Bitcoinsv chain. On Tuesday, August 3, 2021, the BSV network endured a 100 block reorg “wiping out 570K transactions,” according to the founder of Blockchair, Nikita Zhavoronkov.

On October 17, 2022, when the unknown miner captured around 80% of the network, the organization behind the BSV project called the Bitcoin Association, said that it planned to take action against the stealth miner.

“Bitcoin Association is taking action to contact all relevant exchanges and miners to freeze all block rewards associated with this malicious miner and will be pursuing criminal charges against the entity/entities responsible,” the Bitcoin Association wrote.

The Bitcoin Association’s (BA) message further notes that it has been tracking the miner for months, and the increased presence has caused “network problems for honest miners and businesses that interact” with the Bitcoinsv network.

In the same blog post update, BA insists that “producing an empty block is not inherently a dishonest act per the rules set forth in the whitepaper.” The same day, BA also tweeted out an article hosted on bitcoinsv.com that claims “mining empty blocks hurts the Bitcoin network.”

On October 23, the native crypto asset bitcoinsv (BSV) is down 3% in value against the U.S. dollar and 1.8% against bitcoin (BTC). Year-to-date, the token BSV has lost 72.7% against the greenback and BSV is 90.5% down from the all-time high recorded on April 16, 2021.

During the last 24 hours, BSV has seen $25.19 million in global trade volume and a great deal of trades stem from South Korea. The Korean won today represents 46.68% of BSV’s global trading pairs according to cryptocompare.com data. Tether (USDT) is BSV’s second-largest trading pair with 35.69% of all BSV trades, followed by usd coin (USDC) with 8.45% of BSV swaps.

What do you think about the unknown miner on the BSV chain mining a massive amount of empty block subsidies? Let us know your thoughts about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards

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