QTC Mining Observatory
Who actually mines Quantus? This station sweeps recent mainnet blocks, reads every coinbase payout address, and measures mining decentralization with the same math regulators use for market concentration — the Nakamoto coefficient and the Herfindahl index. Every figure is computed from real indexer data, stamped with its snapshot time, and honest about what a coinbase address can and cannot prove.
The 51% line
Cumulative share of blocks as miners stack up from largest to smallest. Where the curve crosses the dashed 51% line is the Nakamoto coefficient — the number of miners who would have to cooperate to control the chain.
Miner leaderboard
Coinbase payout addresses, ranked by blocks mined in the current view. Rows at or above the Nakamoto cutoff are lit — those addresses are the 51%. Identity is unknown unless the operator has labeled the address; one address is not proof of one entity.
| # | Miner address | Blocks | Share | Cumulative |
|---|
Concentration over time
The recent window sliced into 500-block buckets (~1.8 hours each at the observed block time). Watch the Herfindahl index against the DOJ bands and the distinct-miner count — a healthy young chain should drift down-left as more miners join.
How to read this station
Nakamoto coefficient
The smallest number of miners whose combined blocks exceed 50%. A coefficient of 1 means a single coinbase address mined more than half the blocks — the chain's liveness and finality rest, in practice, on one operator. Higher is better; Bitcoin's sits in the low single digits too, but on a vastly larger miner set.
Herfindahl index (HHI)
Sum of squared market shares, 0–10,000. The US DOJ bands: <1,500 competitive, 1,500–2,500 moderately concentrated, >2,500 highly concentrated. HHI punishes dominance harder than a simple top-share number — two 25% miners score lower than one 50% miner.
Why 51% matters
Proof-of-work security assumes no one controls a majority of hashpower. Past 51%, an operator can rewrite recent history, censor transactions, and double-spend. On a 20-day-old chain this is an observed concentration, not an attack — but it is the number to watch as the network grows.
What a coinbase address can't prove
The indexer records which address received each block reward. A pool pays hundreds of rigs through one address (looks centralized, isn't). One operator can also split across many addresses (looks decentralized, isn't). Treat this as address-level concentration — a lower bound on entity concentration, never a roster of people.
Data & honesty
- Source: the public Subsquid indexer at
https://sqm.quantus.com/v1/graphql— per-blockmined_by_id(coinbase) over the recent 15,000 blocks, plus the all-timeminedBlocksaggregate per account. - Snapshot, not live: the indexer allows browser requests only from explorer.quantus.com / quantus.com, so this page reads a same-origin snapshot (
data/miners.json) refreshed by an hourly server-side fetch. The snapshot time is stamped above; stale data is labeled stale. - Math: Nakamoto coefficient = smallest n with cumulative share > 50%; HHI = Σ share² on a 0–100 share scale (0–10,000). Bands follow the DOJ Horizontal Merger Guidelines thresholds.
- Limits: unlabeled addresses carry no identity; pool payout addresses mask many miners; early-chain samples are small by nature. Nothing here is financial advice.