GoMining dug the first known bitcoin block from the Stratum V2 protocol through the DMND Bitcoin pond. The focus of this release was not on the size of the calculus, but rather on the fact that the template was self-declared by the miners, showing that they could also decide directly how part of the trade would enter the block when they joined the mine for mining.
Miners self-declared block template
This time, the Job Declaration feature of Stratum V2 was used. According to GoMining, the company did not follow the pre-defined trade template from the mine, but built its own block content and completed a process through the DMND mine.
Over the past years, bitcoin ponds have usually been responsible for trade in selected blocks. Miners mainly provide the ability to calculate and are less involved in trade screening and template construction. Stratum V2 seeks to change this division of labour by allowing miners to retain more block-building rights while they continue to be involved in mine mining.
Blocks into GoBT Pay transactions
GoMining indicates that this block includes transactions related to GoBT Pay. GoBT Pay is the open-source bitcoin prompt payment agreement developed by the company.
- Out of Block Protocol: Stratum V2
- Use function: Job Declaration
- Participating body: GoMining and DMND mine
By doing so, the company presents a more direct application scenario: not only can miners determine their own block templates, but they can also include their own application or service-related transactions in a block-out process without having to rely entirely on the trading options of the mine.
Stratum V2 points to a more dispersed block-out mechanism
Stratum V2 is a set of open-source mining agreements, developed with the participation of the Bitcoin industry. In addition to improved safety and efficiency, it is more concerned with allowing miners to create their own block templates in the mine model.
This means that there may be a change in the distribution of power between ponds and miners. The mine can still provide services such as composition and distribution of proceeds, but trading rights must no longer be fully in the hands of the mine.
The co-founder of DMND, Alejandro De La Torre, states that this release shows that miners can complete block construction for their own products from end to end, and that the related payment transactions are included in the block without a mine intervention trade option.
From an industry perspective, this progress is still at an early demonstration stage, but it provides a realistic example of the mining ecology of bitcoin: miners can also gain greater autonomy without leaving the pond. If more ponds and miners follow in a similar way, the model of block construction and trading options may be further fragmented.