CHEYENNE, Wyo. – Dec 22, 2023 – (SeaPRwire) – OCEAN, the revolutionary Bitcoin mining pool launched by Jack Dorsey and spearheaded by veteran Bitcoin Core developer Luke Dashjr, has released a groundbreaking new iteration of its platform. Dubbed the “Path to Decentralization,” OCEAN’s latest rollout offers miners unprecedented flexibility in block template policies, gently guiding the Bitcoin ecosystem back towards decentralization by re-engaging miners in the critical task of building blocks. Over the next year, OCEAN will continue introducing ways for miners to take on more complex mining responsibilities while still benefiting from the efficiency of pooled mining.
According to Dashjr, “Decentralized mining is essential for Bitcoin’s long-term resilience, but it requires miners to perform the intelligent aspects of mining: running full nodes, constructing block templates, and independently selecting transactions. This future vision is at risk and diverges starkly from today’s reality where a handful of pools centralize these decisions for miners worldwide.”
Bitcoin Mechanic, OCEAN’s pseudonymous Global Head of Sales, added “Block template construction has become so centralized that giving miners a choice between templates itself represents major progress. By offering multiple templates, OCEAN is taking an unprecedented and much-needed step towards decentralization.”
OCEAN incentivizes miners to utilize their recommended template with an extended 0% promotional fee. This template filters more spam and includes more legitimate transactions than any other pool, addressing Bitcoin’s recent bout of high fees and congestion. OCEAN has also added templates reflecting the popular Bitcoin Core implementation and other options at standard rates.
Since launching last month, OCEAN has pioneered multiple mining pool breakthroughs: (1) permissionless access enabling mining via Bitcoin addresses alone, (2) a non-custodial system without intermediaries, and (3) radical transparency where miners can preview block templates before mining. This diverges from opaque incumbent pools where miners lack visibility into block contents until after completing work.
These innovations align with OCEAN’s overarching mission to expand miner sovereignty by eliminating unnecessary intermediaries and returning agency to miners over the intelligent aspects of Bitcoin mining. OCEAN’s “Path to Decentralization” marks the next logical step in advancing miner autonomy.
OCEAN empowers miners to regain control over the intelligent mining processes. OCEAN is non-custodial, transparent, and permissionless by design. OCEAN is operated by Bitcoin Ocean, LLC, a subsidiary of Mummolin, Inc. and the successor to the pioneering Eligius mining pool (2011-2017). Learn more at www.ocean.xyz and follow @ocean_mining.
Ian A. Northon
SOURCE Mummolin Inc
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