SVPool, the public mining pool for miners on the Bitcoin BCH network, announced that it has opened for business on Monday, Oct. 22. The public pool is managed by CoinGeek Mining and claims to be following the original vision of Satoshi Nakamoto, which helps miners in generating long-term revenue. The mining pool is an initiative by nChain Chief Scientist Dr. Craig S. Wright.
A Mining Pool for Hardcore Satoshi Believers
SVPool, or Satoshi Vision Pool, is dedicated to the original vision of Satoshi Nakamoto for his Bitcoin blockchain. It is a Bitcoin Cash mining pool and is dedicated to helping users in generating long-term revenue. The pool will open with zero fees for miners. It will launch with initial Pay-Per-Last-N-Shares (PPLNS) and is also planning to add Pay-Per-Share Plus (PPS+) options for users next month.
The pool claims to have added hundreds of mining groups and individual miners through pre-registration. The registrants come from the United States, the United Kingdom, Spain, South Africa, Germany, India, China, Canada, Malaysia, Australia, Brazil, Japan, South Korea, and other countries.
The first BCH block was mined on the pool on Oct. 10. Then it entered an invitation-only beta period during which it mined more than 50 blocks. And as of Oct. 21, SVPool already accounts for about 3 percent of BCH blocks mined, as per Coin.dance data.
Fulfilling Nakamoto’s Vision
SVPool runs Bitcoin SV full node for mining activities. Other BCH implementations, like Bitcoin ABC, experiment with “unnecessary” technical changes. On the other hand, Bitcoin SV follows the original Satoshi protocol and allows the BCH network to scale while professionalizing Bitcoin. The SV implementation is designed for business users that want to build bigger projects and require scalability and stability.
Dr. Craig S. Wright commented that the original Satoshi Bitcoin protocol “does not need to be fixed.” He said that it already has all the features that BCH needs for it to massively scale, including smart contracts, tokenization, and other features, which could help it become the “only global public blockchain.” Wright added:
“Just like the Internet has a stable protocol, Bitcoin needs a stable protocol so businesses can build upon a rock solid foundation rather than constantly moving sand. That is why we are restoring the Satoshi Vision through BCH, and I ask miners of the world to join me in SVPool.”
SVPool likewise supports Bitcoin SV’s huge scaling plan, which includes setting the maximum block size to 128MB.
CoinGeek Mining CEO Taras Kulyk reiterated his faith in Bitcoin SV, Dr. Wright, and SVPool, saying that BCH is the “only true Bitcoin that fulfills the Satoshi Vision.”