F2pool bitcoin

Chinese mining pool F2Pool no longer supports the controversial scaling agreement Segwit2x.

Tho’ the proposal has garnered support from many large bitcoin companies and the majority of mining pools, many take kwestie with its aim to boost bitcoin capacity by way of a hard fork, a mechanism that could lead the cryptocurrency to split into separate blockchain networks.

Strain has bot high with developers already hotly debating the merits of the hard fork (a grassroots movement has sprung up te opposition spil well), even however the switch is not slated for more than two months from now.

Albeit F2Pool wasgoed an original signatory of the agreement, its technicus Wang Chun is now among the proposal’s detractors.

Ter an email, Chun told CoinDesk:

“No. I don’t support [the] Segwit2x hard fork.”

Chun went on to add that F2Pool did not run the Segwit2x codebase, BTC1, for the very first part of the agreement, when mining pools rallied around the long-debated code optimization Segregated Witness (SegWit).

Representatives from Segwit2x were not instantaneously available to comment on whether the mining pool has alerted the surplus of the group or formally withdrawn from the agreement.

Volgers remain

While F2Pool has flipped, however, other mining pools seem to be steadfast, again, most claiming they’ll go after through with Segwit2x.

“Wij are strong volgers of the Fresh York Agreement (Segwit2X). Wij support scaling bitcoin and doing so responsibly. Wij hope that the hard fork part of Segwit2X will also be upheld,” said BTCC CEO Bobby Lee.

Bitfury CEO Valery Vavilov echoed this sentiment, telling, “The initial agreement for SegWit2x has not switched.”

Even with support still high, major mining pool Slush Pool, who did not sign the agreement when it wasgoed orignally released, remains undecided.

Marek Palatinus, co-founder and CEO of SatoshiLabs and Slush Pool founder, told CoinDesk, the reason for their indecision is the hard fork. Yet, he didn’t seem pressed to make a decision since the hard fork is still months away.

Do miners matter?

There’s bot much debate about how much mining pool support matters, and how much power the Segwit2x group has overheen decision-making.

Some bitcoin developers argue that users don’t go after mining pools, rather, mining pools pursue cryptocurrencies that are the most profitable, typically those with the most users and request.

Bitcoin specie, the cryptocurrency that split from bitcoin on August 1, provides an interesting and ingewikkeld case examine. Mining pools, such spil ViaBTC, arguably played a big role ter launching the cryptocurrency, yet most mining pools only seem to be mining bitcoin contant to make a profit.

But the allegation is Segwit2x is still pushing the narrative that miner support is necessary, arguing that because so much mining power supports its switch (toughly 85% now with F2Pool and Slush Pool out), it’s the keurig decision for the future of bitcoin.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which helped organize the Segwit2x agreement, and has an ownership stake te BTCC.

The leader ter blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a rigorous set of editorial policies. Have cracking news or a story peak to send to our journalists? Voeling us at news@coindesk.com.

Previous Article

ICO Webpagina Suspends Services Amid Reports of Regulator.

Next Article

Weeks After Seizure, Troubled Bitcoin Exchange BTC-e Is Back.

Related Stories

Parity Urges ‘Rescue’ Fork to Reclaim Frozen Millions

Parity Technologies has just released a proposal for reclaiming the millions ter ether frozen last month due to a fault te its code.

How Forks Might Help Bitcoin Reach Its True Destination

Forks suggest ideological leaders the chance to waterput their ideas on improving protocols into practice without getting bogged down ter endless bickering.

More Devs, More Destruction: Another Zcash Crypto Ceremony Is Underway

Amid criticism of its very first security ceremony, zcash has made switches spil it prepares for a fork. But has it done enough to muffle the skeptics?

A Crypto Crystal Ball? What If Traders Lodged Bitcoin Forks

Researchers are attempting to improve prediction markets spil potentially valuable contraptions for measuring community support or opposition to protocol switches.

Bitcoin mining pools are a way for Bitcoin miners to pool their resources together and share their hashing power while splitting the prize identically according to the amount of shares they contributed to solving a block.

A “share” is awarded to members of the Bitcoin mining pool who present a valid proof of work that their Bitcoin miner solved. Bitcoin mining te pools began when the difficulty for mining enhanced to the point where it could take years for slower miners to generate a block.

The solution to this problem wasgoed for miners to pool their resources so they could generate blocks quicker and therefore receive a portion of the Bitcoin block prize on a consistent fundament, rather than randomly once every few years.

Network Overeenstemming

If you solo-mine, meaning you do not mine with a Bitcoin mining pool, then you will need to ensure that you are ter overeenstemming with the Bitcoin network. The best way is to use the official BitCore client.

If you participate ter a Bitcoin mining pool then you will want to ensure that they are engaging te behavior that is ter agreement with your philosophy towards Bitcoin.

For example, some rogue developers have threatened to release software that could hard-fork the network which would likely result te tremendous financial harm.

Therefore, it is your duty to make sure that any Bitcoin mining power you ongezouten to a mining pool does not attempt to enforce network overeenstemming rules you disagree with.

Segregated Witness

When segwit is activated, you will want to be able to mine and relay segwit-style blocks. The following mining software has bot upgraded to support segwit.

Please note that software that supports the GetBlockTemplate (GBT) RPC vereiste be upgraded to support the BIP9 and BIP145 switches to GBT. All the programs linked above that support GBT have bot upgraded.

Segwit is already activated and enforced on testnet, so you may find it useful to test your infrastructure upgrade by mining with some puny amount of hashrate on testnet. Alternatively, Bitcoin Core 0.13.1’s regression test mode (regtest) also supports segwit by default.

Bitcoin Mining Pools

There are many good Bitcoin mining pools to choose from. Albeit it’s tempting to pick the most popular one, it’s better for the health of the network to mine with smaller pools so spil to avoid potentially harmful concentration of hashing power.

The hash rate distribution is best when split among more Bitcoin mining pools.

Bitcoin Mining Pool Hash Rate Distribution

Bitcoin Mining Pool Options

For a fully decentralized pool, wij very recommend p2pool.

The following pools are believed to be presently fully validating blocks with Bitcoin Core 0.11 or straks:

BTCC: BTCC is a Bitcoin exchange, wallet, and mining pool located ter China. Its mining pool presently controls around 15% of the network hash rate.

Slush Pool: Slush Pool is run by Satoshi Labs, a Bitcoin company based ter the Czech Republic. Slush Pool wasgoed the very first mining pool and maintains around 7% of the network hash rate.

Antpool: [WARNING] – Bitmain operates Antpool and some consider them to be a malicious actor te the Bitcoin ecosystem because of the AntBleed scandal where they were intentionally including malware within mining equipment they sell. Ter a corporate communication, Bitmain claimed this wasgoed a feature and not a bug. This malware would enable Bitmain to remotely shut down equipment of customers or competitors thus enhancing their own profitability. Additionally, such behavior could pose a risk to the entire Bitcoin network.

Eligius: Eligius wasgoed one of the very first Bitcoin mining pools and wasgoed founded by Luke Dashjr, a Bitcoin Core developer. Today, the pool controls just under 1% of the network hash rate.

BitMinter: BitMinter, once one of the largest Bitcoin mining pools, now controls less than 1% of the network hash rate.

Kano CKPool: Kano CKPool wasgoed founded ter 2014 and presently has around 3% of the network hash rate under its control.

F2Pool: F2Pool is the 2nd largest Bitcoin mining pool, with around 25% of the network hash rate. Its user interface is te Chinese, making it difficult for English speakers to join.

BW Pool: BW Pool controls around 7% of the network hash rate. Like F2Pool, its user interface is te Chinese, making it difficult for English speakers to join.

Bitfury: Albeit seen publically te block explorers and hash rate charts, BitFury is a private mining pool and cannot be joined.

Bitcoin Mining Pool Payment Methods

Calculating your share of the bitcoins mined can be ingewikkeld. Ter an ongoing effort to come up with the fairest method and prevent gaming of the system, many calculation schemes have bot invented. The two most popular types are PPS and DGM. PPS, or ‘pay vanaf share’ shifts the risk to the mining pool while they ensure payment for every share you contribute.

PPS payment schemes require a very large reserve of Ten,000 BTC te order to ensure they have the means of bearing a streak of bad luck. For this reason, most Bitcoin mining pools no longer support it.

One of the few remaining PPS pools is EclipseMC. DGM is a popular payment scheme because it offers a nice balance inbetween brief round and long round blocks. However, end users vereiste wait for total round confirmations long after the blocks are processed.

PPS: The Pay-per-Share (PPS) treatment offers an instant, ensured payout for each share that is solved by a miner. Miners are paid out from the pools existing balance and can withdraw their payout instantly. This specimen permits for the least possible variance ter payment for miners while also transferring much of the risk to the pool’s technicus.

PROP: The Proportional treatment offers a proportional distribution of the prize when a block is found amongst all workers, based off of the number of shares they have each found.

PPLNS: The Pay Vanaf Last N Shares (PPLN) treatment is similar to the proportional method, but instead of counting the number of shares te the round, it instead looks at the last N shares, no matter the boundaries of the round.

DGM: The Dual Geometric Method (DGM) is a hybrid treatment that enables the technicus to absorb some of the risk. The technicus receives a portion of payouts during brief rounds and comes back it during longer rounds to normalize payments.

SMPPS: The Collective Maximum Pay Vanaf Share (SMPPS) uses a similar treatment to PPS but never pays more than the Bitcoin mining pool has earned.

ESMPPS: The Equalized Collective Maximum Pay Vanaf Share (ESMPPS) is similar to SMPPS, but distributes payments identically among all miners te the Bitcoin mining pool.

RSMPPS: The Latest Collective Maximum Pay Vanaf Share (RSMPPS) is also similar to SMPPS, but the system prioritizes the most latest Bitcoin miners very first.

CPPSRB: The Capped Pay Vanaf Share with Latest Backpay uses a Maximum Pay Vanaf Share (MPPS) prize system that will pay Bitcoin miners spil much spil possible using the income from finding blocks, but will never go bankrupt.

BPM: Bitcoin Pooled mining (BPM), also known spil “Slush’s pool”, uses a system where older shares from the beginning of a block round are given less weight than more latest shares. This reduces the capability to cheat the mining pool system by switching pools during a round.

POT: The Pay on Target (POT) treatment is a high variance PPS that pays out te accordance with the difficulty of work returned to the pool by a miner, rather than the difficulty of work done by the pool itself.

SCORE: The SCORE based treatment uses a system whereby a proportional prize is distributed and weighed by the time the work wasgoed submitted. This process makes zometeen shares worth more than earlier shares and scored by time, thus prizes are calculated ter proportion to the scores and not shares submitted.

ELIGIUS: Eligius wasgoed designed by Luke Jr., creator of BFGMiner, to incorporate the strengths of PPS and BPM pools, spil miners submit proofs-of-work to earn shares and the pool pays out instantaneously. When the block prizes are distributed, they are divided identically among all shares since the last valid block and the shares contributed to stale blocks are cycled into the next block’s shares. Prizes are only paid out if a miner earns at least. 67108864 and if the amount owed is less than that it will be flipped overheen to the next block until the limit is achieved. However, if a Bitcoin miner does not submit a share for overheen a period of a week, then the pool will send any remaining balance, regardless of its size.

Triplemining: Triplemining brings together medium-sized pools with no fees and redistributes 1% of every block found, which permits your share to grow quicker than any other Bitcoin mining pool treatment. The administrators of thesis Bitcoin mining pools use some of the Bitcoins generated when a block is found to add to a jackpot that is triggered and paid out to the member of the pool who found the block. Ter this way, everyone ter the pool has a better chance to make extra Bitcoins, regardless of their processing power.

Contribute and translate!

Wij want to spread skill about Bitcoin everywhere, do you think you can help us increase our content or translate for those who don’t speak English?

Visit us on GitHub and learn how to contribute.

Leave a Reply