The BCH infrastructure fund saga continues this week and more. Here’s your weekly mining update:
As we reported last week, a group of Bitcoin Cash (BCH) miners announced their intention to launch a mandatory developer fund that distributes 12.5% of BCH coinbase rewards to devs. You can read our in-depth writeup here.
This week, we saw an opposition mining group declare and then retract plans to launch a competing BCH pool for like-minded miners who are against the mandatory donation.
A few days ago, a group of miners (BTC.TOP, Antpool, BTC.com, ViaBTC, and Bitcoin.com) announced a plan to divert 12.5% of the Bitcoin Cash (BCH) block reward to a developer fund
over the course of six months. The developer fund would be mandatory, meaning that the group will orphan any block that does not adhere to the developer fund proposal. We will explore the implications of this.
Mining was front-and-center this week with a major announcement that sparked some intense debate.
A cartel comprised of the four largest Bitcoin Cash (BCH) mining pools has announced a mandatory donation distributing 12.5% of the coinbase reward to BCH developers over the course of six months. While this type of dev funding strategy is not new, the controversy stems from the mandatory nature of the proposal where the signatories have committed to orphan blocks produced by miners who don’t wish to participate.
It is unclear whether this proposal will be revised in light of the criticisms against it, but we will continue to follow this story closely and provide updates.
Coindesk dropped a comprehensive writeup on the intrigue and maneuvuerings at Bitmain, where BitMain CEO Jihan Wu ousted his long time co-founder and co-CEO Micree Zhan.