Author: Jonathan Toomim 2017-04-06 06:24:04
Published on: 2017-04-06T06:24:04+00:00
The situation regarding Bitmain's use of patented mining algorithms has some similarities to the DAO fork, in which an entity used unintended code to gain a large sum of money. Developers are proposing changes to the blockchain rules in both cases in order to reduce the wealth of a single entity. However, unlike the DAO attacker who stole Ether from others, Bitmain is simply optimizing their hardware better than anyone else. The proposed changes would cause Bitmain a loss by reducing the value of their hardware investments. While patented mining algorithms may not be desirable, changing the rules of the blockchain should not be done without very good reason.
Updated on: 2023-06-11T23:42:24.526321+00:00