There is no denying the current Bitcoin block size debate is subject to a lot of different opinions and ideas. However, it is hard for the average Bitcoin user to make their voice be heard, as there is a lot of Reddit censorship going on. Various mining pools have taken it upon themselves to let the Bitcoin miners weigh in on the debate, which is the right way to move forward. After all, there can never be majority consensus without community support.
Also read: Beware of Fake Bitcoin Robot Trading Software Download Links
Valuing Bitcoin Miners
At the time of publication, three major Bitcoin mining pools are letting the individual miners weigh in on the current block size debate. Slush pool, Antpool and F2Pool have all integrated this functionality, as, without the miners’ support, there would be no viable financial Bitcoin ecosystem.
That being said, these voting mechanisms are the right way forward to put this issue behind us once and for all. While several mining pool operators may prefer to resort to meetings behind closed doors to determine the fate of Bitcoin, it is up to individual users to support or reject the idea. As much as mining pools may want to force the issue, they only achieved their current state thanks to the individual miners.
Having the Bitcoin miners weigh in is an important milestone for the Bitcoin ecosystem, as it is the first time community members can actively contribute to achieving consensus. Both Bitcoin Core and Bitcoin Classic solutions have their advantages and downsides, and opening up the voting to individual miners will help paint a picture of where people want the development of Bitcoin to go.
Moreover, this will also bring some exciting competition to the mining pool ecosystem itself. Pools who value user input will become more popular as they clearly show an interested in what users have to say. Moreover, this creates an opportunity for interesting voting proposals in the future.
What if a mining pool decides to let miners vote based on their hashpower input? While this would not necessarily create a fair voting mechanism to reach a consensus in the Bitcoin ecosystem, it opens exciting opportunities. However, once the majority votes for either Bitcoin Core or Bitcoin Classic, majority consensus would be reached without all of the unnecessary debates and meetings.
Source: Reddit
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
