blake2b

According to Bitcoin.com, the developers of Bitcoin BLAKE2b plan to restrict miners from unlocking newly mined tokens, with a waiting period set at 45 days. The relevant changes are scheduled to be implemented at block height 973440.This chain was forked from Bitcoin on August 8. Its native token BTCB2 is also labeled by some trading platforms as Bitcoin BLAKE2b, Bitcoin BIP-110, or XBT.BTCB2 has dropped 84% from its September peak of $1799, with recent trading prices around $270 to $315. Developer Luke Dashjr stated that some BLAKE2b mining pools are "attacking" the network. After the fork, the chain continued to use Bitcoin's difficulty, mining only about 8 blocks in the first 22 days, and then resumed operation by enabling BLAKE2b hashing and adjusting the difficulty.Currently, this chain is not listed on most trading platforms, nor on CoinGecko or CoinMarketCap. The trading platform Neoxa has expressed support for the upcoming soft fork.

According to Bitcoin News, the Bitcoin mining pool OCEAN has officially stopped supporting the BIP-110 fork chain, citing limited mining activity and the transition to the Blake2b proof-of-work mechanism. OCEAN stated that it will not adopt or support the BIP-110 hard fork and will not continue to pay BIP-110 block rewards.The BIP-110 chain stalled after the user-activated soft fork attempt failed on August 8, and the mining rewards post-fork became unusable due to not reaching 100 confirmations. OCEAN stated that these rewards have been permanently frozen at BIP-110 block 961,639. Miners hoping to continue supporting BIP-110 have been directed to CONVOY Mining, which plans to support the Blake2b hard fork and continue the BIP-110 share record.

Luke Dashjr has randomly determined that BLAKE2b will be the new POW algorithm for the BIP-110 chain, expected to replace the currently used SHA-256d algorithm in Bitcoin. Compared to SHA-256d, BLAKE2b is more suitable for mining with general-purpose CPUs/GPUs, being more CPU-friendly, which can reduce the advantages of existing Bitcoin ASIC miners.Previously, it was reported that Luke Dashjr plans to officially implement the BIP-110 hard fork on September 1, making it an independent blockchain and generating a new token distinct from Bitcoin. Luke Dashjr has had his Bitcoin BIP editing permissions revoked by the Bitcoin BIP editing team.