Bitcoin mining pools struggle to make payouts in bitcoin
Operators of the world’s largest bitcoin (BTC) mining pools are quietly discussing a problem with BTC payouts. Despite mining BTC, securing BTC, and earning 100% of their revenue in BTC, pool operators are occasionally finding the currency itself to be cumbersome for paying their own workers. Although all major BTC mining pools pay for work in BTC currently, a few are warming up to the idea of an altcoin as a superior payment method. For months, developers and pool managers have engaged in deep discussions on technical forums like Delving Bitcoin around electronic cash (“ecash”) token alternatives to mining pool payouts. One of the discussion leaders, vnprc, has proposed a new form of eHash tokens that represent “liabilities” that can be “audited” using a so-called “Proof-of-Liabilities” protocol by Calle. The irony of such a string of terms is apparent to any BTC maximalist: new token, new proof, and new protocol. BTC is supposed to be ...