One of the problems I have been thinking about, people can still solo mine when they have lots of capital to buy hardware. Now, most crypto miners are using pools that reward them for their hashrate. However, there are only a handful of pools that the majority of miners use, which means centralization.
It is in the interests of the miners to prevent a situation where one pool takes a majority of the hash rate. Miners will migrate to smaller pools if one is getting too big.
