The head of Monero predicts massive ...

Monero CEO predicts massive censorship of Bitcoin mining pools
CONTENT

  • Cryptocurrency community is perplexed by the emergence of a fully regulated mining pool

  • Monero Creator Calls for a Switch to a New Security Protocol for Pools

  • The head of Litecoin believes that Bitcoin will only become anonymous through a hard fork

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The head of Monero predicts massive ...

Cryptocurrency developer Monero suggests that most Bitcoin mining pools will soon be required to filter transactions

In the near future, the largest Bitcoin mining pools are forced to filter blockchain transactions. This is the opinion of the developer of the anonymous cryptocurrency Monero Ricardo Spagni. On his Twitter page, Spagni noted that in the near future, most Bitcoin pools will be forced to be under regulatory oversight..

“It is only a matter of time before most Bitcoin mining pools are forced to filter transactions,” he wrote..

The main developer of Monero also suggested that it is time to get rid of the decentralized Bitcoin mining pool p2pool and focus on supporting the Stratum v2 protocol..

The head of Monero predicts massive ...

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According to the official protocol description, Stratum V2 – the protocol pays increased attention to the efficiency of data transfer, reducing the requirements for physical infrastructure for mining operations and improving security. Spagni also noted that adding more privacy to bitcoin could prevent the reorganization of mining pools to avoid censorship..

The inevitability of a hard fork

Spagni’s call for change comes amid news that blockchain company DMG Blockchain Solutions has launched a fully regulated Bitcoin mining pool in North America. According to the press release, the new pool meets all requirements of the US Foreign Assets Control (OFAC).

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Meanwhile, one of the most famous bitcoin forks, Litecoin (LTC), has been working on the implementation of privacy functionality for several months. At the same time, the founder of the Litecoin ecosystem, Charlie Lee, admitted that users using the new functionality should be aware of the risk from the newly introduced technology..

The head of Monero predicts massive ...

When asked whether it is possible to introduce anonymity for bitcoin, Lee answered in the negative. Litecoin’s developer believes that such a drastic update for Bitcoin would be super difficult, since it changes many things in the blockchain architecture..

The only possible solution to introducing privacy for bitcoin would be just a hard fork, Lee says..

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