Ordinals developer presents a protocol to increase decentralization in mining
Casey Rodarmore pointed out that many pools have a single approach to prioritizing transactions
25.04.2024 - 10:05
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3 min
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What’s new? The creator of the bitcoin protocol Ordinals, which allows you to issue non-fungible tokens (NFTs) on the blockchain of the first cryptocurrency, presented a new development. Thus, the upgrade for Stratum V2 mining pool protocols created by Casey Rodarmore allows you to select the transactions included in each blockchain.
What else is known? Rodarmore notes the lack of decentralization of bitcoin mining, pointing to a single transaction selection policy: “Many large pools which were previously thought to be independent now seem to be mere proxies for AntPool.” AntPool is one of the largest mining pools in the world, accounting for 22,4% of total blocks mined in March.
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Rodarmore emphasizes that bitcoin’s value is based on resistance to censorship, which can only be guaranteed by decentralized miners competing to produce blocks.
The developer’s new product is designed to solve the outlined problem. With its help, the miners themselves, and not the pools within which they operate, can select transactions.
Stratum V2 has been in development for a long time, but according to Rodarmor, it is now up and running and ready for use. The developer encouraged miners to test the protocol’s performance within the Demand Pool and provide feedback.
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In his announcement of the new product, Rodarmor also quoted an anonymous blockchain analyst under the nickname 0xB10C, who noted that BTCcom, Binance, Poolin, EMCS, Rawpool, and Braiins pools likely use the same transaction prioritization pattern as Antpool.
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