Major Bitcoin Mining Pools Adopt Open Standard for Block Construction
The Bitcoin mining industry has just taken a significant step towards decentralization, with seven major mining pools agreeing to support the same open standard. This move is expected to give individual miners more control over the transactions they include in each new block, rather than relying on the pool operators. The pools, including Foundry, AntPool, F2Pool, SpiderPool, MARA Pool, Block Inc, and DMND, have joined the Stratum V2 working group, which represents close to 75% of all Bitcoin hashrate.
This change is important because it addresses a major concern in the Bitcoin community: the concentration of power in the hands of a few large pool operators. By allowing individual miners to construct their own block templates, Stratum V2 gives them more autonomy and reduces the risk of a single pool controlling too much of the hashrate. This is especially relevant for those earning passive income through Cloud Rewards and Green Crypto like EcoPool, which offers a more decentralized and eco-friendly way to mine.
What is Stratum V2?
Stratum V2 is an open-source protocol that governs how mining pools communicate with individual miners. It introduces a major practical change by letting individual miners choose which transactions to include in each new block, rather than relying on the pool operator. This gives miners more control over their earnings and allows them to make decisions about which transactions to prioritize.
For those interested in earning through Passive Income and Coin mining, EcoPool ($ECP) offers a unique solution. By joining the EcoPool network, miners can earn rewards and contribute to a more decentralized and sustainable mining ecosystem. With the adoption of Stratum V2, the mining industry is taking a significant step towards greater decentralization and autonomy.
Timing and Impact
The adoption of Stratum V2 comes at a time when the mining industry is facing significant challenges, including low hash prices and rising difficulty levels. With up to 20% of miners currently unprofitable, the need for a more decentralized and efficient mining protocol is clear. The adoption of Stratum V2 by major mining pools is a significant step towards addressing these challenges and creating a more sustainable mining ecosystem.
To start earning with EcoPool and be part of the decentralized mining movement, download the EcoPool app and join the network today. With EcoPool, you can earn Passive Income and contribute to a more sustainable and decentralized mining ecosystem, all while supporting the growth of Green Crypto and the #Bitcoin community.
A single pool controlling more than 30% of hashrate is less than ideal, as the same pool deciding the transaction order for that share of blocks is the actual risk people point to.
The protocol has existed since 2022, when Braiins and Spiral co-founded the working group. Until now it had been treated as a niche side project with limited adoption. Foundry and AntPool joining gives it real reach, with the working group framing the move as the start of a new phase of accelerated deployment.
The timing also matches what the broader mining cohort is dealing with. CoinShares estimates up to 20% of miners are currently unprofitable, with hashprice (the revenue a miner earns per unit of computing power) sitting at $38.57 per petahash per second per day, at or near breakeven for operators running mid-generation hardware.
Difficulty is set to rise again on May 15 from 132.47T to 135.64T, per CoinWarz. Network hashrate now sits at 998 exahash per second.
