June 16, 2024

The head of BTC.TOP clarified the proposal for a “tax” on Bitcoin Cash miners

CEO of the BTC.TOP mining pool Jiang Zhuer proposed to hold a vote of miners regarding the directionpart of the block reward for the development of the Bitcoin Cash ecosystem and clarified the details of the idea.

Previously, Jiang Zhuer made a proposaltransfer 12.5% ​​of the reward for mining the BCH block to the development of cryptocurrency. The mechanism may be included in the next update of the Bitcoin Cash protocol in May. The initiative faced criticism from the community, and the founder of BTC.TOP decided to continue the discussion.

In his opinion, miners should be able to donate funds to projects directly, and not only through a specially created fund. This will avoid centralization, Chuyer emphasized.

If the miner does not want to sponsor any projects, he will be able to burn funds by sending to a special BCH address. In fact, this will be a donation to the entire community.

The proposed donation mechanism should only work out a pilot period until the next update after six months to assess its impact on the community.

Chuyer believes that 12.5% ​​of the block reward istoo much. According to him, this was the offer of other mining pools. He believes that the price of BCH will increase sharply by 2022, so 2-3% of the deductions from the award will be enough this year and probably 1% in the next.

The head of BTC.TOP suggested deciding the fate of the initiative by voting the miners - ⅔ votes, based on computing power, must confirm their agreement with it.

Recall, the mining pool Bitcoin.com refused to support the idea of ​​allocating 12.5% ​​of the remuneration of miners for the development of Bitcoin Cash.