Bitcoin Mining Decentralization at Risk: The Urgent Call for Stratum V2 Adoption

• Ordinals founder, Casey, criticizes the current state of Bitcoin mining decentralization, highlighting the dominance of large pools like AntPool.
• Stratum V2 is introduced as a pivotal upgrade to the Bitcoin mining protocol, aiming to empower individual miners with greater transaction selection control.
• “It’s time for serious testing of Stratum V2,” urges Casey, advocating for a shift to enhance Bitcoin’s foundational promise of censorship resistance.

In a revealing assessment, Ordinals founder Casey exposes the vulnerability in Bitcoin’s mining structure and pushes for immediate adoption of Stratum V2 to safeguard the cryptocurrency’s core value of decentralization.

Examining the State of Bitcoin Mining Decentralization

According to Casey, many of the large mining pools, once considered independent, now operate as proxies for AntPool, following similar transaction selection policies. This centralization poses a significant threat to the principle of censorship resistance, which is crucial for the integrity of Bitcoin.

The Role of Stratum V2 in Promoting Decentralization

Stratum V2 represents a significant evolution in the mining protocol by allowing miners, rather than pools, to decide which transactions to include in blocks. This change not only helps in reducing payout variance but also ensures that miners can maintain their influence over block construction, crucial for preserving Bitcoin’s decentralized nature.

Call to Action for Miners: Experimentation and Implementation

Casey advocates for miners to allocate resources towards testing Stratum V2, suggesting that they assign engineers and equipment to explore its functionalities. This experimentation is essential for moving beyond theoretical benefits to practical, scalable applications within the mining community.

Community Support and Resources

For miners interested in adopting Stratum V2, resources such as the Stratum V2 Discord server offer community support and troubleshooting advice. Engaging with platforms like @DEMAND_POOL can provide practical insights into the protocol’s performance and integration challenges.

Conclusion

The call for the adoption of Stratum V2 is not just about technological upgrades but also about reinforcing Bitcoin’s value proposition as a censorship-resistant currency. As the mining landscape evolves, the implementation of Stratum V2 could be pivotal in ensuring that Bitcoin remains a truly decentralized and secure digital asset.