Research

[Analysis] BetterHash: Decentralizing Bitcoin mining with new hashing protocols

Messari

Jul 15, 2019 ⋅  1 min read

Decentralizing Bitcoin ($BTC) mining can happen via BetterHash writes StopAndDecrypt. The BetterHash protocol allows individual miners to run their own node, select transactions, create blocks, and mine them without coercion from mining pools. By jettisoning pool authority numerous exploitations are side stepped:

  1. Certain transactions cannot be blacklisted
  2. Blockchain re-orgs are near impossible
  3. Pools cannot backlog transactions to increase fees
  4. Hashing power cannot be directed without consent
  5. Instances of dishonest mining decrease in likelihood
  6. Signaling group support for proposals increases in difficulty

Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.

Upgrade to Messari Pro

Gain an edge over the market with professional grade tools, data and research.

Already a member? Sign in

Upgrade to Messari Pro

Gain an edge over the market with professional grade tools, data and research.

Already a member? Sign in

Mentioned in this report

Read more

Research Reports

Read more

Based on your watchlists

Create a new watchlist
Read more

Research Reports

Read more

Based on your watchlists

Create a new watchlist

Mentioned in this report