Mining centralization and Stratum V2 question
216 sats \ 3 comments \ @_b_o_n_e_s_ 28 Apr bitcoin
Was listening to Marty and @TheBlueMatt on TFTC discuss Stratum V2 and it sounded like the call to action was: switch to V2 and that's all. It made it sound like it was as 'simple' as updating some firmware or something.
But how does that solve the centralized block construction issue we have right now? Is there additional work miners do after installing to get involved with the selection of transactions, how does it work?
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84 sats \ 0 replies \ @ek 28 Apr
But how does that solve the centralized block construction issue we have right now?
[...] It also introduces three new sub-protocols that let miners select transaction sets and improve decentralization.
-- https://stratumprotocol.org/
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62 sats \ 0 replies \ @030a29f333 28 Apr
SV2 only helps centralization if pools adopt it. Like @xz pointed out, AntPool and co. likely won't do so.
We really need public miners to start advocating for their pools to start testing/using SV2. If mining really is this centralized and censorship begins via large pools controlling what goes in their blocks, the value prop of bitcoin goes way down. This obviously is bad for miners, so they should be incentivized to push for change ASAP.
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42 sats \ 0 replies \ @xz 28 Apr
"It made it sound like it was as 'simple' as updating some firmware or something"
My understanding is on TFTC the answer came at "Ant Pool's not going to .." So, although it's a simple enough thing to do on a per miner basis, incentives or sats/kwh is the main obstacle. It's liquidity to pay out miner, more than a technical issue.
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