New proposal seeks to decentralize Bitcoin mining
The draft of the protocol that seeks to optimize mining with the cryptocurrency was published
The weaknesses identified in Stratum, the most used active mining protocol since 2012, led to the publication of a draft that proposes the decentralization of the activity and its optimization. The person in charge of this initiative is Matt Corallo, the developer of the Bitcoin Core team.
Another reason that led Corallo to publish the draft BetterHash Mining Protocol (s) is that the miners are directing their hash power to the mining pools, which limits the diversity of block templates in the network. In addition, this compromises the resistance to censorship in the network.
The proposal of the expert seeks to satisfy the expressed need of the miners to create their own block templates. Also, to divide the execution of payments into two protocols called Work and Pool. With this, the individual miners will have the power to select the transactions of each block instead of leaving the decision in the hands of the operators of the groups of miners.
Small groups of decentralized miners known as p2pool provide greater autonomy in exchange for unstable payments. The answer to this would be the BetterHash, which would prevent operators from taking advantage of their position to establish updates to the platform.
The benefit for the miners is greater control in the block templates. As a result, the risk of government intervention in the actions of the miners as well as the blocking of transactions are reduced.
M.Pino
Source: Coincrispy
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