CoinGeek’s Calvin Ayre to Release New Bitcoin ASIC Miner and Talks BCH Protocol Changes
Calvin Ayre and CoinGeek Release Statement Claiming BCH is Bitcoin and Protocol Should Be Locked
Canadian online gambling billionaire Calvin Ayre just released a statement on CoinGeek outlining the desired future direction of the bitcoin ecosystem.
Ayre is one of the most outspoken supporters of Bitcoin Cash. He’s also the owner of the world’s largest Bitcoin Cash mining operation. In a new blog post, Ayre outlined the specific changes that need to be made to BCH in order for bitcoin to “fulfil its destiny” as a global peer-to-peer electronic cash system, as outlined by Satoshi Nakamoto in the original whitepaper.
Ayre acquired crypto news website CoinGeek in August 2017. Earlier this year, he also launched a crypto mining operation, also called CoinGeek, dedicated to mining BCH. Ayre is also connected to the early days of bitcoin and Satoshi Nakamoto: it’s claimed that Ayre was the organizer and financial backer of the $30 million acquisition and development of Craig Wright’s assets.
In July 2018, CoinGeek’s mining operation became the world’s largest BCH mining operation after an enormous investment of funds from Calvin Ayre, surpassing BTC.top.
All of this means that Ayre has big sway in the BCH community. What he says matters. Now, Ayre is recommending that BCH developers implement certain changes before locking the protocol.
CoinGeek Recommends Three Changes To The BCH Protocol
In a CoinGeek blog post, Ayre recommended three specific changes to make BCH the best payment protocol in the world, including:
- Continuing the program to re-enable the original set of op codes. Specifically for November, CoinGeek supports re-enabling the op codes OP_MUL, OP_LSHIFT, OP_RSHIFT and OP_INVERT
- Removing the current limit of 201 op codes per script
- Raising the maximum block size to 128MB
The first change is designed to restore some of the original functions to the bitcoin network. CoinGeek believes it’s safe to re-enable those opcodes, which would benefit bitcoin miners.
CoinGeek Does Not Support Two Proposed Changes
CoinGeek also announced that it does not plan to support two specific changes proposed by other BCH stakeholders.
“We note that additional changes have been proposed by several implementation teams that are not part of the original Bitcoin protocol. We will not support the following changes or commit our hash power to running software that implements them.”
The two changes that CoinGeek will not support include:
- Canonical transaction ordering
CoinGeek claims they’re committed to investigating the removal of topological ordering as a potential barrier to scaling but believe the issue “requires more detailed examination.”
CoinGeek Will Support Only Consensus Changes That Restore The Original Bitcoin Protocol
Moving forward, CoinGeek and Ayre will only support consensus changes that restore the original bitcoin protocol “and those that may be demonstrated as absolutely necessary to meeting the goal of massive on-chain scaling to terabyte+ blocks.”
Some of the broad consensus changes that would restore the original bitcoin protocol include:
- Removing all artificially imposed limits
- Restoring previously-disabled functionality when it is safe to do so
- Limitations on protocol parameters like block size should be determined by miners in a competitive spirit
CoinGeek is also a big supporter of miner choice, which makes sense considering CoinGeek is the largest BCH mining operation in the world.
CoinGeek Will Support Some Non-Consensus Changes
CoinGeek also plans to support a handful of non-consensus changes with the goal of enabling on-chain scaling and safe, instant bitcoin transactions.
The specific non-consensus changes recommended by CoinGeek include:
- Remove transaction relay delays
- Plug-in transaction selection and quotation modules to enable miners to control fee policies more easily, for example with free or cheaper transaction fees that shrink or don’t expand the UTXO set or storage or computational cost-based fee allocation
- Implementation of a secondary transaction cache allowing double spend monitoring for transactions that don’t meet a miner’s acceptance policy. This mechanism would be dependent on the principle of 0-conf transactions being treated as a “premium service” with stricter requirements over and above transactions that don’t require instant acceptance.
CoinGeek plans to specifically support safe 0-conf transactions by creating “a comprehensive technical roadmap to deliver all of the tools necessary for demonstrably safe 0-conf transactions”.
After These Changes Are Implemented, BCH Should Be Locked
After implementing CoinGeek’s proposed changes, the company suggests that the BCH protocol should be locked. Locking the protocol would provide much-needed stability, which would help attract more users to the protocol:
“CoinGeek is committed to global success of the original Bitcoin (now restored in the form of Bitcoin Cash BCH), and that requires restoring the Bitcoin protocol to its original design. Once restored, the Bitcoin protocol should be locked so that businesses and developers around the world can reliably build on top of it—just as they do on the Internet protocol.”
CoinGeek Will Release Its Own ASIC Chip Later This Year
Tucked into the end of the blog post is a surprising development. CoinGeek is releasing its own ASIC chip later this year. Calvin Ayre describes the chip as “a super energy efficient, next generation ASIC chip design”. The chip is optimized for enterprise-level bitcoin mining.
CoinGeek is expected to showcase the ASIC chip to the world during the CoinGeek Week Conference in late November.
Conclusion: CoinGeek Is Committed To The Original Vision Of Bitcoin
CoinGeek and Calvin Ayre’s latest blog post makes it clear about one thing in particular: CoinGeek is committed to restoring the original vision of bitcoin, and they believe on-chain scaling and Bitcoin Cash is the best way to do so. That point is mentioned numerous times in the blog post, and CoinGeek sees BCH as the only true version of bitcoin.
With that goal in mind, CoinGeek – the world’s largest BCH miner – has proposed several changes. CoinGeek wants bitcoin to “fulfil its destiny as a peer to peer electronic cash system for the world”, and they believe their BCH recommendations are the best way to do that.