TL;DR
- Ocean launches DATUM, a decentralized mining protocol that allows miners to control block creation.
- DATUM offers an alternative to Stratum V2, decentralizing block construction in Bitcoin.
- The new protocol aims to mitigate centralization and improve Bitcoin’s security.
Ocean, a renowned Bitcoin mining pool, has introduced DATUM, an open-source mining protocol designed to restore decentralization in block creation. This innovation allows individual miners to build their own blocks using their nodes, offering an alternative to Stratum V2. By giving miners flexibility, DATUM enables participation in both pools and solo mining, reducing reliance on third-party configurations.
The development of DATUM arises from concerns about the growing centralization of Bitcoin mining. Currently, more than 50% of the network’s hash rate is concentrated in a few large mining pools, which poses risks such as transaction censorship and potential 51% attacks. The company aims to address these risks by returning control of block creation to individual miners, maintaining the permissionless nature of the Bitcoin network.
According to Luke Dashjr, co-founder of Ocean, the launch of DATUM is key for the Bitcoin mining community. They will return block creation to individual miners, as originally intended in the whitepaper. With the new protocol, they strengthen the security and decentralization of the Bitcoin network, safeguarding its future.
Ocean Will Launch the Public Beta of DATUM on October 18
DATUM is currently in a closed beta phase, with a public beta version scheduled for release on October 18. Interested parties can contact Ocean for more information on how to participate in the closed beta.
Jason Hughes, Ocean’s Vice President of Engineering, noted that DATUM allows miners to act as true solo miners while still benefiting from pool rewards. Its lightweight code, written in C, makes it highly portable and compatible with Bitcoin full nodes.
With the introduction of DATUM, Ocean will make a significant contribution to reinforcing Bitcoin’s core principles by promoting decentralization and security in mining.