There’s no greater threat to Bitcoin than centralization of mining. If —say— there are only a few mining pools, there is a very real possibility that these organizations face regulatory pressure of the kind that exchanges have also had to deal with: they could be forced to only include KYC’ed transactions into blocks. In this case, Bitcoin’s long-term viability is highly doubtful, as censorship resistance may be its most important value proposition.
Ocean was a great addition to the show. launch DATUM is launching this weekend. Similar to Stratum V2implemented DATUM is a mining pool that allows DATUM miners to: “hashers”The pool allows users to choose which transactions are included in blocks that they discover, but still share the rewards with others. Hashers can benefit from pooled mining without outsourcing transaction selection to Ocean pool operators. This makes it harder to regulate. (It’s much easier to regulate a few big businesses —mining pools— in a handful of jurisdictions, than it is to regulate many smaller businesses and individuals —hashers— from around the world.)
The adversarial mind will understand that it does not solve the entire problem of centralization. In the end, lawmakers with draconian laws could ban all pooled mines. Besides, it’s not really clear that there is a demand from hashers to construct their own blocks in the first place– though that might of course quickly change if and when there in fact is regulatory pressure that stops pools from including certain transactions in blocks. Ocean offers a fee reduction to hashers who use the new option.
DATUM represents a step forward in either direction. It should at least alleviate some of Ocean’s concerns about not including certain features. “spam” Now, each hasher is able to decide what transactions he or she wants included in his/her block.
Bitcoin’s future is brighter the harder it becomes to block Bitcoin’s resistance against censorship.
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Source: bitcoinmagazine.com
