Sq. Crypto Funds Bitcoin Developer to Enhance Mining Pool Software program

[ad_1]

Sq. Crypto’s newest grant will fund a Bitcoin developer’s work on software program that would enhance how mining collectives pool hash energy.

Pseudonymous developer Fi3 (@piccioneLibero2 on Twitter, or “free pigeon”) will obtain an undisclosed sum to work on an implementation of Stratum V2, the subsequent iteration of a Bitcoin mining protocol software program developed by Braiins, a subsidiary of the Czech mining entity Slush Pool. 

“Sq. Crypto is happy to assist the event of a top quality open-source implementation of Stratum v2,” Sq. Crypto lead Steve Lee mentioned to CoinDesk. “This software program advantages miners by maximizing their income and offering extra freedom and safety.”

“I wished to work on one thing associated to Bitcoin,” Fi3 advised CoinDesk. The Bitcoin developer has earlier expertise working with Bitcoin’s mining trade through a collaboration with Italian mining firm Bitminer Factory.  Fi3 is proficient within the Rust programming language, which will probably be used to code the improve, so as soon as they noticed the chance they “caught it.” 

“I additionally like the private freedom that this sort of grant provides you,” Fi3 continued.

The co-author of the proposal, Jan Kvapil, will start work on the implementation in February, Fi3 mentioned.

A mining pool is a collective of miners – from massive industrial gamers to hobbyists farming of their basements – who mix their hash energy to extend their collective likelihood of mining a block.

The Stratum software program coordinates this pooled mining. The brand new version, V2, will patch a handful of safety flaws current in its 2012 predecessor, whereas enhancing connection speeds between miners within the pool. It can additionally give particular person Bitcoin miners a say during which transactions they wish to embody within the blocks that the swimming pools mine, permitting particular person miners a bit extra freedom within the course of.

Fi3’s aim is to develop and create a Bitcoin Enchancment Proposal (or BIP, code that alters some facet of the Bitcoin community or protocol) that paves a transparent path to activating the improve. Stratum V2 has been within the works for a while, however the grant will fund the adjustments that ought to lastly push the undertaking to fruition.

Towards this finish they’ll seek the advice of with Braiins co-founder Jan Čapek and former Bitcoin Core developer Matt Corallo, who now works full-time for Sq. Crypto as a developer on open-source tasks.

Fi3 mentioned a Bitcoin Core pull request for implementing Stratum V2 may very well be prepared in 6 months; this would come with a BIP that outlines activation. After this level, “a well-tested implementation [of Stratum V2] ought to be prepared” in a 12 months, Fi3 mentioned.

[ad_2]

Source link

ALTCOIN NEWS BITCOIN NEWS BLOCKCHAIN NEWS CRYPTOCURRENCY NEWS ETHEREUM NEWS EXCHANGES NEWS LITECOIN NEWS MARKET NEWS REGULATION NEWS
Gamestop
Important Facts of Gamestop Entering into Cryptomarket
UniFarm
UniFarm Raises $2 Million After Launching Innovative Farming Pool Featuring 17 Top DeFi Projects
XRP, FTX Token, Waves Price Analysis
#HODL #SHILL YOUR SH*T COIN! #SPOTTED! #VIRALS BITCOIN SCAM WATCH FUN QUIZZES
bitcoin-scams
Top 5 Bitcoin Scams you should be aware of!
Instagram Influencer Accused of Scamming Followers Out of $2.5M In Bitcoin Scams
five assorted color cars parked inside room
WHAT WILL YOU BUY WITH YOUR BULL MARKET GAINS?
FAQ'S INTRODUCTION TO BITCOIN INTRODUCTION TO BLOCKCHAIN INTRODUCTION TO CRYPTOCURRENCY EXCHANGES
Cryptocurrency
4 Amazing Perspectives of Cryptocurrency Characteristics, Everyone Should know
How bitcoin Transactions Work
Bitcoin For Beginners: 5 Plus Important Reasons Why You Should Understand The Future Impact of Bitcoin On Society
blockchain
5 Important points about Blockchain, Cryptocurrency, and Bitcoin(Safe or Not)
EXCHANGES WALLETS
coinbase
4 Best Crypto Coins on Coinbase
flat lay gadgets beside bearded man
ULTIMATE LIST : BEST BITCOIN AND CRYPTOCURRENCY WALLETS 2021
person shopping online
2021 BEST BITCOIN AND CRYPTOCURRENCY HARDWARE WALLETS TO STORE YOUR COINS SAFE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.