Published on: 2018-06-06T19:16:09+00:00
The Bitcoin Core is proposing a new protocol to replace the existing getblocktemplate and Stratum protocols used in Bitcoin mining pools. This proposal aims to address several shortcomings and achieve three primary goals. Firstly, the new protocol seeks to be more performant and robust for consensus changes. It will allow the same CTransactionRef in the Bitcoin Core, resulting in faster validation processes. Additionally, it will move more block-switching logic within the work provider, enabling better optimization of work switching. Secondly, the protocol aims to provide a more secure, simpler-to-implement, and better-defined alternative to Stratum. It will offer VENDOR_MESSAGEs for extensibility, eliminating conflicting specifications from different vendors. It also aims to improve security by removing network-level centralization attacks through decentralization pressure. Pools will have the ability to accept work selected by users, while still maintaining control over payout management and variance reduction.The proposal has undergone multiple rounds of feedback and offers a more secure and simplified replacement for Stratum. The full BIP draft, along with implementations of the work-generation and pool/proxy parts, can be found on GitHub. Although the implementations are slightly out-of-date, they have successfully mined numerous testnet blocks using various hardware types.Overall, the author believes that the new protocol has the potential to significantly enhance decentralization in Bitcoin mining.
Updated on: 2023-08-01T23:26:02.217725+00:00