How Discus Fish Became China's Largest Bitcoin Mining Pool
Mining pools serve a crucial yet relatively mundane role in the mining process by providing a focal point for hashing power and enabling small-scale miners to collaborate with others. If bitcoin mining is a competitive sport that pits miners against each other to discover new blocks and generate more bitcoins, then mining pools are the teams on which they play. Still, despite this importance, mining pools have not been the most transparent sector of the crypto economy. A brief look at a bitcoin mining network hash rate distribution shows three clear winners in the race to discover blocks.....
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Just prior to the height of the holiday spirit, Namecoin developers got a special surprise in their wallets courtesy of not-so-secret Santa, Discus Fish. Also known as F2Pool, Discus Fish provided the developers with 20,000 Namecoins to fund a reimplementation based on mainline Bitcoin. According to the developer blog, Christmas officially came early for Namecoin. "What's more is that chief Namecoin scientist Daniel Kraft has been working so hard that the code is already usable! Indeed, Discus Fish has been using it in production for a few weeks." The code is still in the experimental....
F2Pool, the world's largest Bitcoin mining pool, maintains that changing its code to allow bigger blocks through BIP 101 or Bitcoin XT is not an option. Wang Chun, the operator of the China-based pool controlling some 20 percent of hashing power, dismissed the idea of an exponential growth rate of the maximum block size for 20 years leading to 8-gigabyte blocks. Asked by Bitcoin Magazine, Chun said: "We cannot predict what will happen years into the future, and we think a first step to 2 megabytes should be enough for now." The block-size dispute - which represents a tradeoff between....
Onename, an open-source protocol provider which creates secure and trustless identities on the blockchain network has announced that the platform will switch from namecoin's blockchain to bitcoin at the Blockstack Summit 2015. The company's co-founder Muneeb Ali explained, "Namecoin is not secure," because of one mining pool's dominant control over the Namecoin mining network. According Onename co-founder Ryan Shea, one of China's largest mining pools Discus Fish (F2POOL) controls over 60% of the entire Namecoin network's hashing power. "A single mining pool has 67% of the hashpower on....
BTC China has announced that its new mining pool, which launched just five weeks ago and is exclusively Chinese, has already generated over $1.2m in bitcoin. The company said that as of 28th November, the pool had mined 3,325 BTC, or $1,226,758.75 according to the CoinDesk USD Bitcoin Price Index at the time of writing. Blockchain's Hashrate Distribution Chart ranks the BTC China pool 7th-largest overall, contributing around 13.9 PH/s, or 5% of the world's bitcoin hashing power. An estimation of hashrate distribution amongst the largest mining pools. Source: Blockchain. The firm says it....
F2Pool, a Chinese mining pool also referred to as Discus Fish, which holds the largest share of the Bitcoin network’s hashrate at 26%, has been experiencing a series of extreme DDoS attacks. Behind the DDoS attack. The attacks began to target the F2Pool Bitcoin mining pool almost immediately after the F2Pool team announced their decision to “test” Bitcoin Classic by launching a subpool in which miners can mine Bitcoin Classic blocks. Peter Todd and other Bitcoin experts requested the hackers and the individuals behind the series of DDoS attacks to terminate them immediately, as they are....