Bitcoin Holders Face a Hard Fork on September 1 - Here's What Actually Changes
Luke Dashjr has resigned as chairman and chief technology officer of Bitcoin mining pool OCEAN. The Bitcoin hard fork he backs splits from the main chain on Tuesday.
The company also repurchased all of his equity. He now calls the main Bitcoin chain "Spamcoin." On Tuesday, a Bitcoin hard fork he backs switches to BLAKE2b, a mining algorithm that existing Bitcoin machines cannot run.
Why Dashjr Walked Away From OCEAN
The exit closes a bruising month for the pool. OCEAN's hashrate fell 96% in August. The pool had routed customer power to a minority chain for about 18 hours. Miners never gave clear consent and demanded leadership changes.
BIP-110, the anti-spam soft fork Dashjr championed, needed 55% miner support. Signaling peaked at 2.53%. Its chain stalled after two blocks, so backers regrouped around a September breakaway coin instead.
Inside Dashjr's Bitcoin Hard Fork Plan
Dashjr argues that Bitcoin lost decentralized block construction years ago. He says BLAKE2b removes a shortcut called ASICBoost, which hands large miners an efficiency edge. He also says it punishes concentrated mining power.
โฆ Continue reading the full article at the original source below.
