Bitcoin Core developer Matt Corallo (Matt Corallo) has published draft protocols for improving the Bitcoin blockchain (BIP), which will deepen the decentralization of mining BTC.

A set of protocols published in the personal repository on GitHub Matt, called “BetterHash Mining Protocol(s)”. The main objective BetterHash — to provide an alternative to the Protocol Stratum, which exacerbates the centralization of mining.

As explained Corallo, the distribution Stratum in combination with the fact that BTC miners are mainly working in the pools, significantly limit the variability of patterns of blocks used within the network. According to the programmer, it gives pools an excessive influence on the update of the circuit and reduces its resistance to any kind of censorship:

“Difficult to perform and not enough detail documented Protocol Stratum, due to its structure, requires pools to create a block template with the subsequent distribution among the customers. Without diversity within the community of miners who supply dissimilar patterns, resistance network censorship is at risk (i.e., pools can take advantage of their winning position and to restrict the flow of Protocol updates)”.

Corallo is trying to replace. the new system is based on two protocols: Work (to create blocks) and Pool (for pay), forming a complex BetterHash. These protocols will allow individual miners themselves, without the intervention of operators of pools to select the transactions they want to include in blocks. This preserves the stability of the payments provided by the pool.

At the moment the decentralization of mining provide either “single” or members of a small Autonomous pool of p2pool that gives the miners a relatively greater independence due to the reduced stability of payments.

With the introduction of BetterHash operators will not be able to influence the decision of the miners about the transition to other software. In addition, the complex reduces the risk of government intervention and state censorship by coercion of the pool to block certain types of transactions.

It should be noted that BetterHash does not force miners to create blocks; moreover, the Protocol Work allows them to use templates in other pools.

In addition, BetterHash contains General performance improvements. It is unknown whether these improvements on the energy consumption of the process. Despite the statistics showing the growth of the community of BTC miners, a recent study has shown that this kind of activity lost economic benefits.

comments powered by HyperComments