New Bitcoin Mining Pool Introduced by DEMAND, Empowering Autonomous Miners
Let's Get Decentralized:
Finally, the long-awaited DEMAND (DMND) mining pool has hit the scene, backed by venture bitcoin powerhouse Trammell Venture Partners. This fresh player enters the game with the launch of the first Stratum V2 Bitcoin mining pool, built on the Stratum Reference Implementation (SRI). This move aims to strengthen Bitcoin's core properties - decentralization and reliability - giving individual miners a chance to shine and moving away from the current centralized mining model.
Say Goodbye to Centralized Mining
Founded by Bitcoin vets Alejandro de la Torre (former VP of BTC.com and Poolin) and Filippo Merli (lead developer of the open-source SRI), DEMAND is on a mission to "maximize miner profits while reinforcing Bitcoin's decentralization." With the industry facing a key problem of mining pool centralization, it's essential to shift the landscape towards a decentralized environment that balances mining decentralization with economic sustainability for miners.
DEMAND: That's Right, Baby!
DEMAND's launch follows their solo mining pilot in late 2023, but it's not all work and no play. The team has contributed significantly to testing and building the SRI. Their innovations don't stop there. They've also pioneered a new mining rewards payout system called SLICE. This unique system combines Pay Per Last N Share (PPLNS) with Stratum V2's Job Declaration, maximizing miner payouts while eliminating hidden fees and avoiding the economic incentives towards mining centralization.
Using Stratum V2 also means enjoying end-to-end encryption, which protects against hashrate hijacking, reduces hashrate waste, improves data transfer efficiency, and lowers costs. DEMAND has opened its doors, inviting miners to join as launch partners via their website. Miners who apply by March 28 will enjoy 0% fees for the first two months and an exclusive two-year founding miner agreement.
The Future is Now
The development and adoption of Stratum V2, along with initiatives like OCEAN's DATUM, marks the beginning of a new era for Bitcoin mining - one that's focused on decentralization. With Bitcoin's value nearing $1.6 trillion, the stakes are high, and it's crucial to protect this asset for current and future generations. DEMAND's Stratum V2 pool signals that global stakeholders are committed to upgrading and safeguarding Bitcoin, ushering in a new era for mining.
With ETF inflows, the U.S. government's Strategic Bitcoin Reserve, and Bitcoin mining for rural electrification in Africa, we stand on the brink of a fascinating new chapter for Bitcoin. Reinforcing its core properties has never been more critical to prevent it from becoming another failed project. Let DEMAND's Stratum V2 pool be the catalyst for a brighter future for Bitcoin mining!
Enrichment Data:
Insight 1: DEMAND's Stratum V2 pool empowers individual miners by giving them control over their block templates, reducing the influence of large pool operators and decentralizing the mining process.
Insight 2: DEMAND's adoption of end-to-end encryption in its Stratum V2 pool provides an additional layer of security, preventing hashrate hijacking.
Insight 3: The SLICE payment system used by DEMAND offers transparency, fairness, and eliminates hidden fees, providing auditable transactions and fairer payouts for miners.
Insight 4: Stratum V2 represents a significant improvement over the Stratum V1 protocol, offering enhanced security, reduced hashrate waste, improved efficiency, and lower costs for miners, contributing to the advancement of Bitcoin mining technology.
- DEMAND, a new Bitcoin mining pool powered by Stratum V2, is set to allow miners to leverage their credit lines to bolster their mining operations in 2023, as they aim to maximize profits while reinforcing Bitcoin's decentralization.
- The SLICE payout system developed by DEMAND is designed to optimize miner payouts, combining Pay Per Last N Share (PPLNS) with Stratum V2's Job Declaration, thereby eliminating hidden fees and encouraging a more decentralized mining model.
- The DEMAND team, including Alejandro de la Torre and Filippo Merli, have played a crucial role in the development and testing of Stratum V2, hoping to create a more secure, efficient, and decentralized Bitcoin mining landscape.
