Sq. Crypto’s newest grant will fund a Bitcoin developer’s work on software program that would enhance how mining collectives pool hash energy.
Pseudonymous developer Fi3 (@piccioneLibero2 on Twitter, or “free pigeon”) will obtain an undisclosed sum to work on an implementation of Stratum V2, the subsequent iteration of a Bitcoin mining protocol software program developed by Braiins.
“Square Crypto is excited to support the development of a high quality open-source implementation of Stratum v2,” Sq. Crypto lead Steve Lee stated to CoinDesk. “This software benefits miners by maximizing their revenue and providing more freedom and security.”
“I wanted to work on something related to Bitcoin,” Fi3 advised CoinDesk. The Bitcoin developer has earlier expertise working with Bitcoin’s mining business by way of a collaboration with Italian mining firm Bitminer Manufacturing unit. Fi3 is proficient within the Rust programming language, which will likely be used to code the improve, so as soon as they noticed the chance they “caught it.”
“I also like the personal freedom that this kind of grant gives you,” Fi3 continued.
The co-author of the proposal, Jan Kvapil, will start work on the implementation in February, Fi3 stated.
A mining pool is a collective of miners – from huge industrial gamers to hobbyists farming of their basements – who mix their hash energy to extend their collective probability of mining a block.
The Stratum software program coordinates this pooled mining. The brand new version, V2, will patch a handful of safety flaws current in its 2012 predecessor, whereas bettering connection speeds between miners within the pool. It’ll additionally give particular person Bitcoin miners a say wherein transactions they need to embrace within the blocks that the swimming pools mine, permitting particular person miners a bit extra freedom within the course of.
Fi3’s objective is to develop and create a Bitcoin Enchancment Proposal (or BIP, code that alters some side of the Bitcoin community or protocol) that paves a transparent path to activating the improve. Stratum V2 has been within the works for a while, however the grant will fund the modifications that ought to lastly push the undertaking to fruition.
Towards this finish they’ll seek the advice of with Braiins co-founder Jan Čapek and former Bitcoin Core developer Matt Corallo, who now works full-time for Sq. Crypto as a developer on open-source initiatives.
Fi3 stated a Bitcoin Core pull request for implementing Stratum V2 may very well be prepared in 6 months; this would come with a BIP that outlines activation. After this level, “a well-tested implementation [of Stratum V2] should be ready” in a yr, Fi3 stated.