On Tuesday the blockchain firms Nchain and Coingeek announced a ‘Miners Choice’ initiative that aims to promote lowering minimums for mining fees and transaction values. The company’s mining operations plan to lead the effort by adjusting their pool’s settings in order to remove the minimum ‘dust limit’ as well as accept some zero mining fee transactions in their blocks.
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The ‘Miners Choice’ Initiative Proposed by Coingeek and Nchain
The two BCH-centric blockchain companies Coingeek and Nchain have started an initiative called ‘Miners Choice’ which aims to lower the mining fee for some transactions to zero while also removing the current minimum dust limit of 546 satoshis. Both of these ideas could make on-chain platforms like Memo, Blockpress and many others even more suited to performing a plethora of actions. Removing the dust limit would allow people to send as little as 1 Satoshi (one hundred millionth of a single BCH coin) via a transaction.
Secondly, the companies believe BCH mining pools could designate a certain amount of space per block for free transactions that don’t require a network fee. Again, similarly to the aforementioned instance above, free transactions would allow BCH applications, especially ones focused on micropayments, to become even more robust. The two pools (Coingeek and Nchain’s BMG Operations) plan to publish a technical article on the benefits of removing the dust limit and accepting a fraction of zero-fee transactions.
Nchain’s Chief Scientist: “Miners Choose What is Profitable”
Dr. Craig Wright
Some people within the BCH community are skeptical with this plan. The CEO of Cointext, Vin Armani, asked Nchain’s Chief Scientist Dr. Craig Wright whether mining nodes accepting
