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BTC Bitcoin developer Luke Dashjr announces major PoW algorithm changes
Bitcoin developer and core figure of the Bitcoin Knots project Luke Dashjr said that an important proof-of-work (PoW) change will be implemented on Sunday, August 30, which may affect Bitcoin's mining algorithm. Dashjr pointed out that miners using the SHA-2 algorithm should stop mining on Saturday in order to prepare for a main-network preview of Bitcoin Knots version 29.4.1rc4.
According to Dashjr's statement, Bitcoin Knots version 29.4.1rc4 will be configured to fix the last SHA-2 block before transition. Later, after the online version of the New York Post's print edition is released on Sunday morning, the "specification blake2b_headline" parameters used in the initial phase of the new BLAKE2b chain will be announced.
Dashjr said that if the process goes smoothly, the final version of Bitcoin Knots 29.4.1 will be released on September 1 as planned, and the history of the blockchain created on August 30 will be preserved.
However, the developer pointed out that if an unexpected problem occurs, the system can roll back to the last SHA-2 block and try again using the rc5 version.
Dashjr also recommends that users who want to start mining on the first day after the change, prepare in advance to use the Bitcoin Knots rc3 version on the testnet4 network.
What has changed at the technical level?
Bitcoin's current proof-of-work system uses the SHA-256 hash algorithm (belonging to the SHA-2 family) during the mining process. Miners create new Bitcoin blocks by performing SHA-256 calculations. The changes mentioned by Dashjr involve the use of a different hash algorithm-BLAKE2b-in PoW calculations.
BLAKE2b is an encryption function that, similar to SHA-256, converts data to a fixed-length hash value. However, due to the different computing structures of the two algorithms, most current Bitcoin ASIC mining devices cannot directly mine the BLAKE2b algorithm. Therefore, if such changes are implemented, they may not just be a software update, but also have a serious impact on the hardware that is heavily used in Bitcoin's mining infrastructure.
The "last SHA-2 block" that Dashjr refers to means the last block generated according to the current SHA-256-based proof-of-work rules. After this block, nodes using the new rules can begin to follow blocks created based on BLAKE2b. However, if other nodes on the Bitcoin network do not accept the same changes, the blockchain could split into two different sets of rules.
Therefore, this move should not be seen as a definitive protocol change accepted by the entire Bitcoin network. Dashjr's statement specifically targets the Bitcoin Knots software and the planned processes for users who choose to adopt these rules.
* This article does not constitute investment advice.
