Bitcoin Core to Launch Alternative Mining Protocol

'The miners are now the miners again', Matt Corallo, Bitcoin Core developer says
04 July 2018   1776

The developer of Bitcoin Core, Matt Corallo launched a new protocol 'BetterHash' to enhance the decentralization of mining. This is reported by Bitcoinist.

The protocol provides an opportunity to use its own block templates. The miners will continue to pay pools and interact with them, but the owners of the pools will not be able to control them.

This protocol is designed to allow users to run their own full node if they want to… they can build their own templates, select their own transactions (not censor transactions), choose which block they’re mining on to prevent a 51% attack or a selfish mining attack. The miners are now the miners again, rather than the miners being the pools.
 

Matt Corallo
Developer, Bitcoin Core

The protocol configuration differs from the main bitcoin pools, such as Bitmain and Antpool, which use the Stratum protocol, the protocol most popular among the miners.

Over Stratum you get the block templates, you get information about how to build the coinbase and also information representing all of the transactions in the block. This means that end user miners have largely no control over what they’re mining on.
 

Matt Corallo
Developer, Bitcoin Core

The fears of crypto community continue to grow due to the impact of large mining pools. In particular, the leading manufacturer of mining equipment Bitmain currently controls about 42% of the hashrate, and its share continues to grow to new record highs.

Bitmain may soon gain control over 51% of the bitcoin hash network. This will be possible if the ViaBTC mining pool, with a capacity of 9% of the total network hash, will join Bitmain.

Electrum to Add Lightning Network Support Soon

According to the team, in other words, Electrum will turn into a Lightning node
14 October 2019   46

The Lightning Network protocol will be implemented in the popular Electrum bitcoin wallet in the next release.

As the representatives of the project said in a statement today, the Lightning node’s own implementation has already been merged with the main development branch.

The next release of Electrum will support Lightning payments. Our lightning node implementation has been merged into Electrum's master branch.
 

Electrum @twitter

Developers also emphasize that, in essence, Electrum will turn into a full-fledged Lightning node.

Recall that the intention to implement Lightning Network support, the creator of Electrum Thomas Vogtlin announced in July at the BIP001 conference in Odessa.