Recent Analysis Highlights Uniform Transaction Patterns Across Major Bitcoin Mining Pools

A new analysis by Bitcoin developer and observer 0xB10C has revealed consistent transaction patterns among several leading Bitcoin mining pools, suggesting a possible standardized approach in their operations. This observation follows prior findings which indicated a significant concentration of custodianship within these pools, potentially affecting the decentralized nature of Bitcoin, according to Bitcoin.com.   

The analysis, shared on the social media platform X, pointed out that pools like Btc.com, Binance Pool, and Poolin are mirroring the block templates and transaction prioritization methods used by Antpool. Such uniformity could hint at deeper collaborations or a move towards standardization across these platforms, which might impact Bitcoin’s core principle of decentralization.

0xB10C noted that these pools often prioritize certain transactions with significantly lower fees than others, which could influence the overall transaction processing dynamics of the network, especially given the considerable hashrate they control.

Further complicating the issue, earlier research by another developer, Mononaut from mempool.space, discovered that a single custodian now controls the coinbase addresses for several large pools, which together account for 47% of Bitcoin’s hashrate. This revelation raises additional concerns about the centralization of mining power within the Bitcoin network.

The community response has been to call for the adoption of Stratum V2, a protocol that could enhance transparency and decentralization by allowing individual miners more control over the creation of block templates. This change could potentially reduce the influence of large mining pools and empower smaller miners, promoting a more decentralized network. However, resistance from certain sectors, including ASIC manufacturers and some developers, has slowed progress on this front.