Author: Daryl Tucker 2013-04-08 12:32:30
Published on: 2013-04-08T12:32:30+00:00
BTC Guild, a Bitcoin mining pool, has proposed a mitigation plan to prevent the network from being attacked by malicious entities. The plan was devised after users of Bitcoin expressed concerns that BTC Guild, which currently accounts for more than 40% of the network, could potentially be used to attack the network. If BTC Guild’s share of the network increases above certain thresholds, the proposal will come into effect. For instance, if BTC Guild's share goes up to 45% or more, getwork based pools will be removed within 24 hours. Additionally, PPS fees will be raised from 5% to 7%, and PPLNS fees will be increased from 3% to 4% in case its share exceeds 40% again. However, these fees will be reduced once the pool drops below 40% for over 72 hours. Users are also required to take some initiative to ensure the plan is executed properly. Users who have questions or comments about the proposal can leave them on the forum thread related to this issue.
Updated on: 2023-06-06T11:36:49.488115+00:00