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Luke Dashjr resigns from OCEAN mining pool to launch CONVOY
Luke Dashjr has resigned as chairman and chief technology officer of the Bitcoin mining pool OCEAN. Following his departure, the company repurchased all of his equity. Dashjr is now shifting his focus to a new mining project called CONVOY.
The move comes amid significant challenges for OCEAN, which saw its hashrate decline by 96% in August. This decline followed an incident where the pool routed customer power to a minority chain for approximately 18 hours without clear miner consent.
On September 1, a Bitcoin hard fork supported by Dashjr is set to launch, utilizing the BLAKE2b mining algorithm. This algorithm is incompatible with existing Bitcoin mining hardware. Dashjr has criticized the main Bitcoin network, labeling it ‘Spamcoin’ and claiming it operates under centralized management that prevents miners from building their own templates. He argues the new algorithm will remove the ASICBoost shortcut, which currently provides an efficiency advantage to large-scale miners.
Industry figures have reacted critically to Dashjr’s positions. Adam Back previously described the BIP-110 anti-spam soft fork championed by Dashjr as ‘idiocracy,’ while former Ripple CTO David Schwartz dismissed claims of a network attack as nonsense.
Entities
Adam Back · Bitcoin · CONVOY · Luke Dashjr · OCEAN
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Luke Dashjr has resigned from his roles as chairman and CTO of the OCEAN mining pool. techxeber.az · bitcoinethereumnews.com · www.merca2.es
- [● 2 SOURCES] The BLAKE2b algorithm cannot be run by existing Bitcoin mining machines. bitcoinethereumnews.com · www.merca2.es
- [● 2 SOURCES] Luke Dashjr refers to the main Bitcoin chain as ‘Spamcoin’. bitcoinethereumnews.com · www.merca2.es
- [● 3 SOURCES] OCEAN repurchased all of Dashjr’s equity in the company. techxeber.az · bitcoinethereumnews.com · www.merca2.es
- [● 2 SOURCES] Adam Back described the BIP-110 proposal as ‘idiocracy’ in July. bitcoinethereumnews.com · www.merca2.es
- [● 2 SOURCES] OCEAN’s hashrate fell by 96% during the month of August. bitcoinethereumnews.com · www.merca2.es
- [● 3 SOURCES] Dashjr is focusing on a new mining project called CONVOY. techxeber.az · bitcoinethereumnews.com · www.merca2.es
- [● 2 SOURCES] A Bitcoin hard fork backed by Dashjr will switch to the BLAKE2b mining algorithm on September 1. bitcoinethereumnews.com · www.merca2.es