Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • This professional traveler reveals how to tour the world without any remorse
    • Spring of 2025 external equipment and new books guide
    • The 18 best beaches in the world
    • River mares in Tanzania: Heavy weights in Africa
    • How to decide which one chooses
    • Tarangy National Park: The hidden jewel of Tanzania
    • 15 Something to do around Chautauqua Lake, New York – a short drive from Buffalo, Cleveland, or Pitsburgh
    • Discover the magic of relaxation and rich history of hot springs, Arkansas: a perfect mix of nature and culture
    Facebook X (Twitter) Instagram
    ZEMS BLOG
    • Home
    • Sports
    • Reel
    • Worklife
    • Travel
    • Future
    • Culture
    • Politics
    • Weather
    • Financial Market
    • Crypto
    ZEMS BLOG
    Home ยป Ocean adds the option to select a block template
    Crypto

    Ocean adds the option to select a block template

    ZEMS BLOGBy ZEMS BLOGJanuary 4, 2024No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    OCEAN Mining has released an update to its pooling software allowing miners to individually choose between a range of different block templates to mine. Miners can choose between these three templates at the moment:

    • The default OCEAN Knots template, which filters any logging transaction, as well as placing an additional 42-byte maximum OP_RETURN restriction on transactions with OP_RETURN.
    • Bitcoin Core was patched with the Ordisrespector update, which resulted in the filtering of registry transactions.
    • The default Bitcoin Core template that does not apply any additional transaction filters at all.

    This new option is a stepping stone towards their ultimate goal of enabling Stratum v2 in order to allow any miner using the pool to build any block template they desire while mining with the pool. There is a catch however. For any miners using the default Knots template, or the Bitcoin Core + Ordisrepsector OCEAN patch, they will continue to honor the 0% promotional fee from launch. However, for any miners who choose to use the default Bitcoin Core block, a 2% pool fee will be attached to their contributions to the pool.

    OCEAN's decision to implement transaction filtering was not a popular choice, as evidenced by the significant backlash following its belated announcement of this policy after the pool was officially launched. This new template selection option is a response to this backlash, but they are not turning around and abandoning their position that patterns and other transaction classes are harmful to the Bitcoin network. They apply a 2% fee to Core-generated templates to act as a disincentive for users to select that template, which in their view creates a negative impact on the network as a whole.

    Ultimately, what comes of this is up to OCEAN users. The economically rational thing would be for everyone mining with OCEAN to choose the default die for Bitcoin Core, as this will be the die that produces the maximum revenue generated from block production. However, on the other hand, the 2% fee applied to this template and not the other templates should be taken into consideration. If the fee charged by OCEAN for using the basic templates is greater than the difference in profitability between the basic template and the other templates, then the answer to which one is more economically profitable is not cut and dry.

    Ultimately, the miners themselves will be the ultimate decision-makers according to their economic and ideological incentives, which is what OCEAN ultimately set out to do: put decision-making back in the hands of the miners themselves.

    Source link

    ZEMS BLOG
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleBREAKING: Here are the 37 Epstein documents released tonight in full! | Critic portal
    Next Article Solana declines below the 100.00 level
    ZEMS BLOG
    • Website

    Related Posts

    A security engineer was imprisoned for 3 years for hacking cryptocurrencies worth $12 million

    April 12, 2024

    6 Common Risks in Self-Directed IRAs and Bitcoin Checkbooks

    April 12, 2024

    Asset tokenization, artificial intelligence attracts focus from IOSCO Fintech team

    April 12, 2024
    Leave A Reply Cancel Reply

    This professional traveler reveals how to tour the world without any remorse

    May 30, 2025

    Spring of 2025 external equipment and new books guide

    May 29, 2025

    The 18 best beaches in the world

    May 28, 2025

    River mares in Tanzania: Heavy weights in Africa

    May 26, 2025
    Recent Posts
    • This professional traveler reveals how to tour the world without any remorse
    • Spring of 2025 external equipment and new books guide
    • The 18 best beaches in the world
    • River mares in Tanzania: Heavy weights in Africa
    • How to decide which one chooses
    About

    ZEMS BLOG in partnership with Holiday Omega keeps you informed. Bringing you the latest news from around the world with fresh perspectives and unique insights. Your daily source for news from around the world. All perspectives, all curated for a global audience.

    Facebook X (Twitter) Instagram YouTube Telegram
    • About Us
    • Contact Us
    • Privacy Policy
    • Disclaimer
    Subscribe For latest updates

    Type above and press Enter to search. Press Esc to cancel.