OCEAN Restoring Bitcoin Mining Decentralization

September 29, 2024 at 10:00 AM EDT

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OCEAN, a leader in Bitcoin mining-pool innovation, is proud to announce the launch of DATUM (Decentralized Alternative Templates for Universal Mining), a revolutionary decentralized mining protocol designed to restore the original ethos of Bitcoin mining. DATUM empowers miners to reclaim control over block template construction, ensuring the Bitcoin network remains secure, decentralized, and resistant to centralization threats such as financial censorship.

OCEAN’s lead investor and decentralization advocate Jack Dorsey applauded the news saying “Continued decentralization and permissionless mining are essential for Bitcoin’s long term health. OCEAN's latest innovation with DATUM makes decentralization easier for modern miners."

What is DATUM?

Bitcoin mining has drifted from its decentralized origins. Today, large mining pools dominate the creation of block templates—the structure that determines which transactions are included in a block. This concentration of power undermines the security and legitimacy of the Bitcoin network. DATUM changes that by giving individual miners, not pools, the ability to construct their own block templates while still participating in a pool for consistent rewards.

Similar to Stratum V2 (Sv2), DATUM is designed to decentralize block construction and restore control to individual miners. Jason Hughes, VP of Engineering at OCEAN and author of the DATUM codebase, commented “DATUM is a leap forward in decentralized mining, making true mining available for everyone with as little friction as possible. It enables miners to be actual solo miners and to do all of the things miners were always intended to do for the Bitcoin network, while still reducing their variance through pooled rewards. The codebase is written in C. It is extremely lightweight and portable so it can easily run alongside a Bitcoin full node.”

Why Does This Matter?

With large pools now controlling more than 50% of Bitcoin’s hash rate, the network faces a serious centralization risk. This raises the possibility of transaction censorship, weakening the very foundation of Bitcoin. DATUM provides a solution by decentralizing block construction, helping to prevent 51% attacks and ensuring Bitcoin remains a free and open system.

"The launch of DATUM is a pivotal moment for the Bitcoin mining community. We’re moving block creation back to the individual miners, just as it was intended in the original whitepaper," said Luke Dashjr, Co-founder of OCEAN. "With DATUM, we’re ensuring the security and decentralization of the Bitcoin network, safeguarding its future."

About OCEAN:

OCEAN is dedicated to advancing the decentralization of Bitcoin mining through innovative technology and cutting-edge solutions. With a focus on preserving Bitcoin’s original principles, OCEAN is committed to creating a secure, sustainable, and decentralized mining ecosystem.

Miners interested in participating in the exclusive beta can reach us here: datum@ocean.xyz.