We’re still scoping the requirements and the timeline, but aiming to launch before the bitcoin halving. On a high level; I think the steps and challenges would be:
- Run a full bitcoin node to access mempool on ICP canister – had a brief discussion with @THLO and @bob11 (tagging here so can join the discussion) about this – should be possible and need to test soon.
- Run the mining pool software on canister – we would probably choose stratumv2 as the standard
- Setup liquidity pool in ckBTC and payout and reward schema for miners
- Build the interface for miners
On a sidenote, we had launch our “shadow” mining pool that works by accepting hashrate transfer from bitcoin miners using existing mining pool (f2pool)
- convert aggregate mining reward to ckBTC
- miners can withdraw mining reward everyday no matter how small in ckBTC
- they can also convert to USDT-Arbitrum & offramp to local currency (soon)
small but growing miners community from Indonesia had already started using it.
It’s live on https://miner.lokamining.com
We’re a small team with some VC funding in our pre-seed, now starts actively recruiting ICP + Rust devs that have in-depth expertise or interest in BTC & mining pool.
If you know such a person, please refer to us!