Two large Bitcoin Cash mining pools push for zero-fee transactions as part of “Miner’s choice” initiative.
Bitcoin Cash mining pools ViaBTC and Bitcoin.com have announced their readiness to support the "Miner's Choice" initiative, which calls for miners to remove the minimum ‘dust limits’ and begin processing a certain amount of zero-pay transactions.
Why it is important
- "Miner's Choice" is now being backed by over a quarter of the total number of Bitcoin Cash hashrate (unit of measurement, which allows to determine the effective computing power of equipment involved in the cryptocurrency mining). This indicates certain changes in the BCH network, affecting the long-term perspective.
- The proposal is aimed at further stimulating the use of Bitcoin Cash, enabling users to make transactions up to 1 satoshi (0.00000001 BCH) with zero-fee.
According to CoinDance, ViaBTC is the largest of the three mining pools and the second largest Bitcoin Cash production pool with 12.7 percent of the BCH hashrate. Bitcoin.com, which belongs to Roger Ver and CoinGeek, add further 7.7% and 6.9% respectively.
“Miner’s choice” supporters say:
- It will speed up the development of markers based on BCH called “colored coins” which users can send at no cost using transactions in 1 satoshi BCH with zero fees.
- It will force the BCH network to simplify and facilitate the use of microtransactions for the users that require them.
- Its believed that the miners will create a more competitive market for receiving rewards by processing a wider range of transaction, benefiting the ecosystem as a whole.
By Ekaterina Ulyanova