OCEAN Mining has launched an replace to their pool software program that permits miners to individually select between a variety of various block templates to mine on. Miners can at the moment select between these three templates:
- The default OCEAN Knots template, which filters each inscription transaction, and locations a further OP_RETURN restriction of as much as 42 bytes on transactions that use OP_RETURN.
- Bitcoin Core patched with the Ordisrespector replace, filtering out inscription transactions.
- The default Bitcoin Core template that implements no further transaction filters in any respect.
This new choice is a stepping stone in direction of their final aim: to allow Stratum v2 in order that any miner utilizing the pool can assemble any block template they need whereas mining with the pool. Nonetheless, there’s a catch. For all miners utilizing the usual Knots template or the Bitcoin Core + Ordisrepsector patch, OCEAN will proceed to honor the 0% promotional payment from launch. Nonetheless, for miners who select to make use of the usual Bitcoin Core template, their contributions to the pool can be topic to a 2% pool payment.
OCEAN’s resolution to implement transaction filtering was not a preferred selection, as evidenced by the massive backlash following their delayed announcement of this coverage after the pool’s official launch. This new template choice choice is a response to this backlash, however they don’t seem to be turning round and giving up their place that inscriptions and different sorts of transactions are dangerous to the Bitcoin community. They apply the two% payment to Core-created templates to discourage their customers from choosing that template, which they consider negatively impacts the community as an entire.
What’s going to finally come out of that is as much as the customers of OCEAN. The economically rational factor to do is for anybody mining with OCEAN to pick Bitcoin Core’s default template, as that would be the template that generates the utmost quantity of income generated by block manufacturing. Alternatively, nonetheless, the two% payment needs to be taken under consideration that’s utilized to that template and to not the others. If the payment charged by OCEAN for utilizing Core templates is larger than the distinction in profitability between the Core template and different templates, then the reply to the query of which is extra economically worthwhile just isn’t so clear-cut.
However finally, the miners themselves would be the final resolution makers primarily based on their financial and ideological incentives, and that’s what OCEAN finally wished to do: put resolution making again within the arms of the miners themselves.