Bitcoin Hard Fork Scheduled for September 1, OCEAN Pool Faces Leadership Changes

Luke Dashjr has resigned as chairman and chief technology officer of Bitcoin mining pool OCEAN. A Bitcoin hard fork he supports will split from the main chain on September 1, switching to the BLAKE2b mining algorithm, which existing Bitcoin machines cannot run. OCEAN has repurchased all of Dashjr's equity. He has referred to the main Bitcoin chain as 'Spamcoin.' OCEAN's hashrate fell 96% in August after routing customer power to a minority chain for about 18 hours without clear consent from miners, who demanded leadership changes. BIP-110, an anti-spam soft fork proposed by Dashjr, required 55% miner support but peaked at only 2.53%, stalling after two blocks. Dashjr claims Bitcoin lost decentralized block construction years ago and argues that BLAKE2b removes ASICBoost, which benefits large miners. Critics, including Adam Back and former Ripple CTO David Schwartz, have dismissed his views, arguing that the legacy chain operates under centralized management. Dashjr is now focusing on CONVOY as a new decentralized mining effort, while OCEAN continues as a non-custodial pool. Bitcoin (BTC) is trading near 77655, down 0.59% for the day but up 23.3% this month. The hashrate has declined throughout the year as miners shift to AI contracts, impacting the potential for recruiting machines for any breakaway chain. Holders are advised to consider replay risk and which chain their wallet tracks, with Dashjr recommending a light wallet. The upcoming proof-of-work change will create a separate coin, and the market will determine the value of each chain. Dashjr's previous fork attempt failed to gain 3% support, making the upcoming split a critical test.

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