Atlanta BitDevs

Stratum V2: The Next Generation Protocol for Pooled Bitcoin Mining

Meetup Link

Tonight we are going to take a look at the Stratum V2 protocol!

What is Stratum V2?

From the Stratum Protocol website:

Stratum V2 is the next generation protocol for pooled mining. It increases security, makes data transfers more efficient, and reduces mining infrastructure requirements. It also introduces three new sub-protocols that let miners select transaction sets and improve decentralization.

Stratum V2 WebsiteπŸ“„SummarizedπŸ§’Explain Like I’m 5

Questions to Consider

  • What problems does Stratum solve?
  • For individual miners?
  • For pool operators?
  • For bitcoin users?

How does Stratum V2 work?

The documentation page on the Stratum website provides an overview of how the protocol works:

Stratum V2 OverviewπŸ“„SummarizedπŸ§’Explain Like I’m 5

Questions to Consider

  • What are the individuals roles involved in Stratum V2?
    • What are the incentives of each role?
  • Are all these roles distinct parties, or could they be shared?
  • What are the individual protocols involved in Stratum V2?

Digging Deeper into Stratum V2

There is a Specification document on the SV2 website which goes into the protocol in great detail. Let's look at some of these:

MotivationπŸ“„SummarizedπŸ§’Explain Like I’m 5

Design GoalsπŸ“„SummarizedπŸ§’Explain Like I’m 5

Protocol OverviewπŸ“„SummarizedπŸ§’Explain Like I’m 5

Protocol SecurityπŸ“„SummarizedπŸ§’Explain Like I’m 5

Mining ProtocolπŸ“„SummarizedπŸ§’Explain Like I’m 5

Job Declaration ProtocolπŸ“„SummarizedπŸ§’Explain Like I’m 5

Template Distribution ProtocolπŸ“„SummarizedπŸ§’Explain Like I’m 5

How to Use Stratum V2

In an April blog post from the Stratum website:

We’re inviting miners, pools, firmware makers, and the community to check out our getting started guide (opens new window)and pilot test the software locally, with CPU or actual mining devices. Your feedback will have a high impact on the development direction.

The Stratum V2 reference implementation is a work-in-progress and they are looking for people to test and provide feedback. There is a "Getting Startedc" page on the SV2 website which gives you instructions for running the software.

Getting Started with running SRI - Stratum v2 reference implementationπŸ“„SummarizedπŸ§’Explain Like I’m 5


Hopefully this was helpful for learniong about SV2 and the importance of miner decentralization. If you want to follow the SV2 project, you can join their Discord.