DEMAND Launches World’s First Stratum V2 Bitcoin Mining Pool
Bitcoin mining company DEMAND today announced the world’s first Stratum V2 mining pool, according to a press release sent to Bitcoin Magazine. Built on the open source Stratum Reference Implement (SRI), this pool aims to usher in a new era in mining by introducing improved security, flexibility, and performance.
According to the release, the Stratum V2 protocol is a significant advancement over previous versions, offering a series of improvements that not only improve mining capabilities but also support a more decentralized mining environment.
Alejandro de la Torre, co-founder and CEO of DEMAND, said: “With Stratum V2 and our new solo mining pool, we aim to make home mining even more attractive. This will actually help decentralize the Bitcoin mining ecosystem and improve the health of mining. The entire Bitcoin network.”
A key feature of Stratum V2 is to empower individual miners to construct their own block templates. Traditionally, mining farm operators have exercised control over transaction selection, creating a centralization risk that leaves them vulnerable to potential regulatory pressure to censor transactions. Stratum V2 now gives mining pool users the autonomy to choose which transactions will include a block, creating a more decentralized network that is resistant to censorship.
“Bitcoin mining is overwhelmingly done through mining pools, making transaction selection relatively centralized,” said Filippo Merli, DEMAND co-founder and SRI project lead. “Only a few mining pool operators can decide to collude and prevent certain transactions from being confirmed,” he said. “Stratum V2 puts transaction selection power back in the hands of individual miners, further decentralizing the mining ecosystem and making Bitcoin more censorship-resistant.”
To take advantage of Stratum V2’s capabilities, miners must set up their Bitcoin Core nodes to run SVPool’s converter proxy using the pool’s configuration file with a job declaration client and receive transactions over Bitcoin’s peer-to-peer network. DEMAND plans to incentivize miners to create block templates by reducing fees for these users, increasing full node participation, and strengthening the Bitcoin ecosystem.
Currently, DEMAND only serves solo miners, giving them the opportunity to find blocks independently, ensuring that full block rewards accrue to successful solo miners. DEMAND also facilitates the resale of hash power on the marketplace, allowing users to maximize profits by engaging in mining or redirecting hash power to the highest bidder.
In the future, DEMAND expects to expand its services to include pooled mining and create a collaborative environment where users share benefits with each other.
