Bitcoin Mining Pool Stirs Controversy by Promoting Censoring BTC Transactions

2020-11-14 22:33

Blockchain analyst firm, BlockSeer has launched a private mining pool, currently, in beta, that will censor certain Bitcoin transactions.

Given that the Bitcoin community emphasizes censorship-resistance, an essential feature of cryptocurrency that makes it differentiating from the central bank digital currencies, it’s pretty obvious that the company would come under fire for its move.

The community has never favored such steps and has time and again criticized those, like Coinbase and Tether, and other cryptocurrency exchanges, who censored specific transactions or parties.

Last month, DMG Solutions, to which BlockSeer is a subsidiary, suggested that ensuring transaction blocks are OFAC (US Government’s Office of Foreign Assets Control) compliant will help in the leading digital asset’s mainstream adoption.

DMG’s COO Sheldon Bennett said at the time that this pool would be “the first of its kind focused on governance, transparency and building Bitcoin blocks on the network,” which instead of focusing on transaction fees will be all about “sound transaction data and history.”

The company wants to bring “a new compliance-focused standard to the industry” by focusing on

“being devoid of transaction from known nefarious wallets which use this medium in ways that continue to sully the reputation of cryptocurrencies, specifically Bitcoin, in the mainstream as well as to impede widespread adoption.”

Protesting this move, Monero’s lead developer Riccardo Spagni says with censoring transactions as a key selling point of these new mining pools, regulators will try to take advantage of this by encouraging other mining pools to implement similar measures.

“It’s only a matter of time till most Bitcoin mining pools are forced to do this transaction filtering. Might be time to dust off p2pool + focus on Stratum v2 support for pools,” argued Spagni. “Also worth noting that adding more privacy to Bitcoin would prevent this,” he added.

The post Bitcoin Mining Pool Stirs Controversy by Promoting Censoring BTC Transactions first appeared on BitcoinExchangeGuide.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66889.92 (-0.14%)
Объем 24H $28.132b
Изменеия 24h: 2.46 %, 7d: 9.89 %
Cегодня L: $66739 - H: $67036.39
Капитализация $1317.719b Rank 1
Цена в час новости $ 15875.72 (321.33%)

bitcoin pool mining transactions essential central differentiating

Источник: bitcoinexchangeguide.com

bitcoin pool → Результатов: 126


BTC.com добавит поддержку Ethereum и Ethereum Classic

Принадлежащий Bitmain майнинговый пул BTC. com намерен в скором времени добавить поддержку Ethereum и Ethereum Classic. Об этом компания заявила в пресс-релизе. Пользователи смогут присоединиться к пулу по добыче двух новых криптовалют через портал pool.

2018-8-30 19:38


To fight the talent shortage, train your current employees

How many people can program a driverless car? How many can program an artificial intelligence? How many can get their head around blockchain (and no, it doesn’t count if you invested €100 in Bitcoin)? And yet, how many times have you read about driverless cars being on the cusp of adoption, or traditional currencies being on the verge of becoming obsolete? The truth is, the pool of individuals who actually know how to build these technologies is very small.

2018-8-26 21:30


PR: ExCraft Launches DAO, User-Governed Cryptocurrency Exchange

Hong Kong, 10 August 2018 – ExCraft, a cloud-native cryptocurrency exchange based in Hong Kong that implements a DAO governance ran by the users and pools, was launched today. ExCraft stands out by being a community and pool focused exchange, rewarding traders through a combination of “Proof of Existence” (PoE) and “Proof of Stake” (PoS) mechanisms, allowing power-users to create pools, vote for new project listings, and even create dedicated pool exchanges based on its immutable and fair PoE and PoS meritocracy.

2018-8-10 12:30


In today’s edition of Bitcoin in Brief we cover a number of stories related to crime from around the cryptosphere: an exchange operator pleads guilty to securities fraud, a scammer is fined over $1.9 million for bitcoin and binary options fraud,

Manhattan U.S. Attorney Geoffrey S. Berman said: “Montroll deceived his investors and then attempted to deceive the SEC. He also failed to register with the CFTC as a Commodity Pool Operator. He promised to convert this into fiat and invest it on customers’ behalf in a pooled investment, including trading binary options on an online

2018-7-25 18:25


Notes on Blockchain Governance

In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place.

2018-7-21 23:03


Фото:

‘Miners Are Miners Again’: Bitcoin Core Dev Launches Alternative Mining Protocol

Bitcoin core developer Matt Corallo has launched a mining pool which aims to increase decentralization as Bitcoin mining becomes increasingly monopolized. Corallo: Miners ‘Have No Control’ Beginning June 25 but still with what Corallo describes as “vulnerabilities,” the pool uses BetterHash, a protocol which seeks to offer mining pool users the option to use their own block templates rather than those prescribed by pool owners.

2018-7-3 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru