[Bitcoin Advent Calendar] Decentralized Coordination Free Mining Pools



Summary:

A proposal was made on the bitcoin-dev mailing list for a new method of mining pool coordination that would increase payout regularity and lower on-chain footprint. The idea involves creating "superblocks" composed of multiple block headers submitted by individual miners, which would then be used to distribute block rewards between all coinbase transactions in those headers. This could potentially be done using a separate ephemeral blockchain to keep track of weak blocks that have been submitted. One potential concern raised was the safety of immediately spending block rewards through a channel, as they are currently unspendable for 100 blocks to prevent double-spending. However, it was suggested that swapping the coins through a Lightning Network transaction could be a solution. The discussion also touched on the role of mining pools and the potential benefits and drawbacks of this proposal, with some concerns raised about complexity and the need for an extra network.


Updated on: 2023-06-15T03:33:58.340524+00:00