Blockseer, a subsidiary of DMG, a blockchain analytics firm, announced that it has developed a new mining pool that censors transactions that can be made with cryptocurrencies such as Bitcoin (BTC) in blacklisted wallets. The pool named as “Blockseer Mining Pool” is still in beta version. However, if its development is completed, it may be the target of criticism arrows due to its mission.
It has been announced that the Blockseer Mining Pool will be embedded within the tools that regulate the operations that will enable mining for the pool. Verified sources such as the US Foreign Assets Control Office (OFAC) will be assisted to identify cryptocurrency transactions that are unwanted to be processed with the Havuzdakl technology.
“We aim to protect Bitcoin’s reputation”
The technology to be used in the pool developed by Blockseer will enable filtering and censorship of transactions to be made with cryptocurrencies such as Bitcoin in the pool. In this way, since the control is completely in Blockseer, the developer company will not include wallets labeled as high risk wallets in the light of the data they receive from the sources.
In addition, an authentication will be requested from miners who want to be included in the pool. Sheldon Bennett, CEO of the developer company DMG, shared his views on the subject as follows: “With the technology in the pool, we aim to protect mainstream cryptocurrencies, especially Bitcoin, from transactions that continue to tarnish their reputation. These transactions also prevented the adoption of cryptocurrencies. ”
In addition, the statement made by DMG claimed that the Blockseer pool can also adjust the hash rate balance. It is known that Bitcoin nodes work more especially in the North American region. If the allegations come true, the Bitcoin blockchain will be even more balanced.
“Could be a threat to Bitcoin”
There are different views on the mining pool, which was reported to be developed by DMG after a two-year effort. Some people see the new mining pool as a threat to Bitcoin.
Bitcoin transactions are carried out uncensored and decentralized due to its nature. However, as in this case, the fact that central assets can intervene in Bitcoin transactions does not seem to affect the cryptocurrency universe and especially the future of Bitcoin.
Riccardo Spagni, who worked as a former lead developer at Monero, also made a statement on his Twitter account. Spagni stated that he was not happy with the development, and claimed that the possibility of developing similar methods in other Bitcoin mining pools is a matter of time.
It’s only a matter of time till most Bitcoin mining pools are forced to do this transaction filtering. Might be time to dust off p2pool + focus on Stratum v2 support for pools. Also worth noting that adding more privacy to Bitcoin would prevent this.
— Riccardo Spagni (@fluffypony) November 11, 2020