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Binanceโs decision to discontinue its mining pool in November is concerning news for Bitcoinโs mining ecosystem.
Miners can move elsewhere, but losing a major pool operator such as Binance now means fewer alternatives, and risks a greater concentration of control if that hashrate flows towards the largest remaining pools.
That is not the direction we and our community want for Bitcoinโs decentralisation.
Here at TAP, supporting miner profitability and long-term sustainability is a priority. Demonstrated through our miner-redirect mechanism that provides an additional, Bitcoin-native block reward for every block mined (paid in DMT-NAT: @natgmi).
This was done with the primary aim of strengthening the incentives for securing the network. ๐ค
All Bitcoiners want an ecosystem where a diverse range of miners and pool operators can all thrive and remain profitable.
And for TAP, building on Bitcoin means a responsibililty to support the economics that underpin its security and decentralisation.
As always, we invite mining pools to connect with the TAP team to explore how our miner-redirect mechanism can help their miners access this additional, Bitcoin-native revenue stream.
Bitcoin's security budget issue is no longer something that can be ignored, or saved for a solution at a "later" date. We are committed to bringing this discourse into the broader Bitcoin arena for increased discussion and debate.
We stand alongside all ~50k NAT advocates and holders today, and hope to see the community grow louder and stronger with every passing year.
Bitcoin is NAT alone.