A blockchain and technology company claims its new bitcoin mining pool is embedded with tools that enable the pool to censure transactions in the blocks they mine. According to a statement issued by the DMG, the parent company to Blockseer mining pool, this ability allows the latter to â€œexceedâ€ the compliance requirements of the U.S. Governmentâ€™s Office of Foreign Assets Control (OFAC).
The mining poolâ€™s ability to filter or censor transactions means â€œhigh-risk wallets will not be included in Blockseerâ€™s posted blocks.â€ Detailing the companyâ€™s breakthrough, DMG, in a statement, says â€œall users of Blockseerâ€™s pool are required to pass Know Your Customer (KYC) protocols.â€ The statement adds:
Furthermore, DMG claims that Blockseerâ€™s pool â€œmay further decentralize the bitcoin blockchain, readjusting the balance of hash rate to North America, where more Bitcoin nodes operate.â€
However, others see Blockseerâ€™s new mining pool, which is the culmination of a two-year effort by DMG, as a threat to bitcoin. Bitcoin transactions are censorship-resistant, while its blockchain network is decentralized. Therefore, when centralized entities retain the right to reject certain transactions, this does not bode very for bitcoinâ€™s future.
Others fear that if Blockseerâ€™s new mining pool proves to be successful, most miners will be forced to enable the same transaction filtering in the future. At the time of publication, Blockseerâ€™s pool is not represented among the 15 mining pools pointing hash at the BTC chain.
What are your thoughts on Blockseerâ€™s claims that it can censor bitcoin transactions? Share your views in the comments section below.
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