Chinese mining company Bitmain has announced that it is exploring the possibility of implementing new domestic policies that will increase transparency of operations of the company and improve its communication with the cryptocurrency community. In a statement
the company said:
«We believe that the community served by Bitmain and its products must be maintained and receive services in the most transparent manner. Our recent actions in this area included limiting the number of orders, ensuring the goods are dispatched in order of payment, blocking IP addresses that we suspect dishonest work, and publicly posting detailed updates in relation to delivery.»
In terms of the extent to which will be verified by the data provided by the company, a representative of Bitmain said:
«The company has no financial incentives to disclose this information, but we believe that it is right for the cryptocurrency community in General. We also recognize that with the expansion of activities (particularly in North America), the audience requires and deserves greater transparency from industry leaders».
Issues of mining
Mining for yourself is one of the specific areas that are going to affect Bitmain. The company plans to produce monthly reports for members of the cryptocurrency community, which will reveal what cryptocurrency company mines for themselves, as well as hash rate all owned by Bitmain hardware in each blockchain. The representative of Bitmain said:
«Most importantly, we will disclose information about how much Bitmain mines for themselves. As a rule, people considering a production volume that goes through our mining pools or on the cloud mining. We also publicly affirm our domestic policy in regards to the «secret mining».
In particular, Bitmain declares that it is not the practice of the «secret mining», which in the past was accused Bitmain, when mining is carried out using new models of ASIC not yet presented to the public, and «puts ordinary miners at a disadvantage».
Bitmain also States that will never be mine empty blocks that arise due to problems with the distribution of blocks at the Protocol level. In a statement the company said that if mining in a pool that is owned by Bitmain, will experience an excessive level of production of hollow blocks, they will look for the cause and to report them immediately to the leading players of the industry.
This policy of «empty blocks» — a departure from the views expressed earlier by the head of Bitmain will Tzigane (Jihan Wu) is on Twitter. Two years ago, he said that Bitmain will continue to produce empty blocks, because this capability is provided by the Bitcoin Protocol. A company representative said: «This is the record of two years ago, and our position as a people, technologies and opinions have changed since then».
Finally, Bitmain plans to publish data on the supply and volumes for the first models of any new miners that it will produce. This information will be posted on social networks via the official account on Twitter Antminer and will cover all rounds of shipments of the first batches of these models, which have the greatest impact on the network complexity of the blockchains. With regard to the new Bitmain approach to transparency, the representative of the company said:
«This announcement was an important milestone in the journey that began with the disclosure of the details of sending Z9 Mini and subsequent discussions with the leaders createmutexa community, such as Zuko Wilcox (Zooko Wilcox). Described here is the results of extensive discussions with stakeholders and critics».
In recent months, Bitmain is in the centre of the discussions on centralization of mining. Presumably, the company already controls over 40% of Bitcoin hash rate yet, and its share is inexorably approaching the critical 51%. Perhaps, as part of its new policy, the company will try to «clear» his name.