Bitcoin Core Vs. Bitcoin Knots: Actions Speak Louder Than Words
Briefly

Bitcoin Core Vs. Bitcoin Knots: Actions Speak Louder Than Words
"They claim to fight for mining decentralization, with OCEAN mining pool held out as a primary example of this. OCEAN's DATUM protocol is ostensibly designed to further mining decentralization, specifically the actual template construction process that decides what transactions go into a block. They also claim to fight for Bitcoin's use as a monetary network, i.e. a network that facilitates the transmission of bitcoin in economics transactions, ensuring security for those transactions."
"Bitcoin's mining network remaining decentralized is absolutely critical in order to maintain its censorship resistance. A clear majority of miners must exist and operate in a state free from the possibility of coercion from the state (or any other party) to engage in censorship. Without existing in this state, a simple majority of miners coerced in such a fashion would be capable of perpetually preventing any transaction from confirming in the blockchain, completely undermining Bitcoin's core value proposition."
"Scaling Bitcoin's use as money is also incredibly important. The only mechanisms to transact with bitcoin in a censorship resistant fashion are ones that are truly anchored to the blockchain itself in a manner where the end user can on their own enforce ownership of their current balance of bitcoin. Both of these things are absolutely necessary for Bitcoin to meaningfully contribute to any positive change in the world."
Bitcoin Knots users claim to champion mining decentralization and Bitcoin's use as money. OCEAN mining pool and its DATUM protocol are presented as mechanisms to decentralize block template construction. Mining decentralization is essential to preserve censorship resistance and prevent a coerced majority of miners from blocking transaction confirmations. Scaling Bitcoin as money requires transaction mechanisms anchored to the blockchain so end users can independently enforce balance ownership. Developers have been working on Stratum v2 as an open-source replacement for Stratum v1 to improve miner-pool interactions.
Read at Bitcoin Magazine
Unable to calculate read time
[
|
]