In a turn of events that has sounded alarms in the crypto community, Coinbase warned that it has observed a single mining pool, ViaBTC, controlling 53.8% of the Zcash network hash rate. The cryptocurrency exchange promptly took precautionary actions to mitigate the risks associated with a 51% attack, a situation that arises when a single entity controls over half of the computational power on a blockchain network.
Coinbase’s Mitigation Measures
Upon detecting this significant centralization in the Zcash network, Coinbase promptly increased the Zcash confirmation requirement to 110 block confirmations, elongating deposit times from an average 40 minutes to roughly 2.5 hours.
This move is a bid to counter the double-spending vulnerabilities that arise when one entity controls over half of a proof-of-work blockchain’s computational power. Further, to shield its trading community from potential market upheavals that could ensue, Coinbase shifted its Zcash trading to a “limit-only”

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