Governance Pre-Consensus Can Bring Stability to Bitcoin Cash

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Avatar for AskTheBMP
Written by
4 years ago
In community: Bitcoin Cash(e11c)

中文

Have you heard of the Bitcoin Mining Parliament (The BMP) yet? The BMP is an on-chain Bitcoin Cash governance protocol that enables miners to coordinate their actions, and thus bring greater certainty to the BCH ecosystem.

The BMP is a hashpower voting system for Bitcoin Cash that is:

  • Decentralized

  • On-chain

  • Open-source

  • Verifiable

  • Resistant to outside interference

  • Easy to use

  • Extensible

  • Voluntary

  • Neutral

Takes No Sides

The BMP takes no sides in internal Bitcoin Cash disagreements. The BMP is a neutral protocol, non-political, that works with on-chain data. It is as secure as the Bitcoin Cash blockchain.

The BMP simply extends Nakamoto Consensus with a pre-consensus phase, empowering the miners of the last 28 days of BCH blocks to make themselves heard. The BMP can serve as an important tool for Bitcoin Cash governance, reducing forking, infighting and disputes.

BMP Onboarding Campaign

Over the next 2 months, Javier Gonzalez (BMP Architect) and George Donnelly (marketing), as part of the BMP team, will be teaching the Bitcoin Cash ecosystem about how the BMP works, onboarding miners and facilitating questions from the community to miners via The BMP.

Follow @AskTheBMP on Twitter or here on read.cash to stay informed as the campaign develops, and to queue up your questions to the miners.

Learn More about The BMP

Get an in-depth overview of The BMP here:

English: https://read.cash/@JavierGonzalez/why-bitcoin-cash-need-the-bmp-1a6ab975

Español: https://read.cash/@JavierGonzalez/por-que-bitcoin-cash-necesita-el-bmp-e6a746a3

中文: https://read.cash/@JavierGonzalez/bmp-6bc8ea63

Ask Us Questions

We welcome your questions anytime. Email Javier at gonzo@virtualpol.com or George at george@panmoni.com. Want a personalized presentation? Schedule a call with George and Javier here.

The BMP can serve Bitcoin Cash as a key tool of governance going forward, ensuring only voices with real power and skin in the game are speaking — but only if we work together to ensure miners adopt it.

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Avatar for AskTheBMP
Written by
4 years ago
In community: Bitcoin Cash(e11c)

Comments

Totally agree with all the aspects you elaborated in the article, i will work hard to emerge my system to this strategy of BCH

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User's avatar raashid
4 years ago

This article is very nice

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User's avatar Nafisa12
4 years ago

Nakamoto Consensus with a pre-consensus phase, empowering the miners of the last 28 days

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User's avatar alifa0987
4 years ago

Amaury is just a symptom that will reemerge in the future even if we get rid of him.

BMP is the cure.

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User's avatar majamalu
4 years ago

Nicee article! ^_^

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User's avatar satplars
4 years ago

Bring Stability to Bitcoin Cash

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User's avatar lea965
4 years ago

So what site can we use to mine it, the previous one I was using to mine cryptos crashed and it was a huge loss 🤧. If you have one, how convenient is it

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User's avatar De_Jezzai
4 years ago

Made BCH more stronger

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User's avatar mooontivated
4 years ago

Very nice information

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User's avatar Meerah
4 years ago

This is beautiful. Thank you for explaining in detail.

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User's avatar Mike23
4 years ago

I just have one question, "Is the signaling controlled by the miners or the mining pools?"
thanks!

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User's avatar nyusternie
4 years ago

Great question. We are working on helping pools to enable the individual miners to participate.

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User's avatar georgedonnelly
4 years ago

We are working on helping pools to enable the individual miners to participate.

that's kind of a deal-breaker, no? otherwise, how do the mining pool operators "accurately" represent the will of the miners on their pools? i like the concept of the BMP protocol, however, if it's currently limited to the signaling of pool "operators" ONLY, then wouldn't it be infinitely easier to just call (or group chat) the handful of them up and ask them?

if there are any proposals on how to signal votes from the miners themselves, well then, I should would love to hear about it..

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User's avatar nyusternie
4 years ago

If it's all public, the miners could switch to a pull that shares their will, so it's more like a bonus than a deal-breaker.

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User's avatar The00Dustin
4 years ago

if there are any proposals on how to signal votes from the miners themselves

@JavierGonzalez is working on enabling that functionality in the near term.

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User's avatar georgedonnelly
4 years ago

Worth reading! Ty

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User's avatar moneymakinghub
4 years ago

Nice

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User's avatar Alia.alia
4 years ago

BMP is total garbage, I cannot believe anyone takes this Javier idiot seriously. He fundamentally wants to change Satoshi's consensus model because he doesn't understand it whatsoever.

Fork your own shitcoin Javier no one cares

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User's avatar shredder
4 years ago

You do not understand the BMP, at all.

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User's avatar georgedonnelly
4 years ago

Made BCH more stronger. Because sometimes the currency is lower. But, I love earning BCH.

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User's avatar TshaPoulineLopez
4 years ago

All information is essential of all the peopl.

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User's avatar Pritam
4 years ago

I am subscribe your channel

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User's avatar Pritam
4 years ago

keep it up

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User's avatar Jack689
4 years ago

Great article👌 good work

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User's avatar Jreuyan
4 years ago

Can you recommend a good mining site?

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User's avatar Tokki
4 years ago

hmmm

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User's avatar Helal72
4 years ago

Great article, Thankyou for sharing ❤️

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User's avatar Cristy
4 years ago

Make BCH strong its a great currency to have and many will have opportunity to use it especially right now tgat there is a global crisis that we are facing

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User's avatar aries25
4 years ago

So what site can we use to mine it, the previous one I was using to mine cryptos crashed and it was a huge loss 🤧. If you have one, how convenient is it

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User's avatar misu
4 years ago

BCH is a great currency & Sub back me bro

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User's avatar Shorifulislam920
4 years ago

The big holder adopters (BCH) believe in this more and more, it's very extraordinary 😊

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User's avatar Ardian1206
4 years ago

I hope goes this well

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User's avatar Jac0bus
4 years ago

nice

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User's avatar Seiam
4 years ago

Awesome!

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User's avatar phamnuwen
4 years ago

Good👍

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User's avatar AliceJ
4 years ago

hmmm

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User's avatar Helal72
4 years ago

Nice

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User's avatar Munna-6.33
4 years ago

We can work together for miners to adopt it

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User's avatar Abubakar
4 years ago

Yes, that is the idea. Thank you.

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User's avatar georgedonnelly
4 years ago

Anything good for governance is well worth trying. Man the fights between craig and roger should be a thing os the past.

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User's avatar StarLord
4 years ago

Amazing job,hope to see more

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User's avatar Muhibat
4 years ago

This is really an good article.BCH should more strong ❤❤

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User's avatar Bahadur2000.-chy
4 years ago

I really don't know how the BMP works

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User's avatar Commycool
4 years ago

Visit https://bmp.virtualpol.com/ or stand by for more information soon.

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User's avatar georgedonnelly
4 years ago

Good information

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User's avatar Pritam
4 years ago

I'am subscribe your channel

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User's avatar Pritam
4 years ago

nice dear, thanks for sharing.

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User's avatar Mohid4772
4 years ago

I think this progress is a major threat to cryptocurrency.

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User's avatar Great_Influence
4 years ago

hmmm, thanks for the info.

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User's avatar redside21
4 years ago

I will try to learn more about this

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User's avatar Anthonyrogin
4 years ago

Wow

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User's avatar Tibro
4 years ago

Bring Stability to Bitcoin Cash

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User's avatar himu
4 years ago

This article is very nice, thank you for sharing.

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User's avatar himu
4 years ago

Very nice article

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User's avatar alvi
4 years ago

Very nice article

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User's avatar alvi
4 years ago

wow

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User's avatar rhan22
4 years ago

Interesting Article, Thank you for sharing

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User's avatar godfrey
4 years ago

Bitcoin Cash will grow stronger..

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User's avatar denzjam
4 years ago

Hmhmhmh

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User's avatar Sniper14
4 years ago

Nice

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User's avatar lakayPh
4 years ago

Very well presentation. Very clean. Said little but easy to understand BMP. My plan is done everything..

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User's avatar KaziMoshiqur
4 years ago

I'm excited to be working on this and I believe there is a great potential for BCH miners to signal their pre-consensus (or lack thereof) clearly on any given topic of import. This can give ecosystem builders the certainty they need around big decisions such that we can keep building with confidence.

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User's avatar georgedonnelly
4 years ago

Nice article

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User's avatar Bahotin
4 years ago

This is. Soo epic i am very excited to use thi app

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User's avatar Aliy17
4 years ago

I really like it 💕

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User's avatar Sheina04
4 years ago

Bring Stability to Bitcoin Cash

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User's avatar himu
4 years ago

Please subcribe like comment Please

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User's avatar Pritam
4 years ago

👏 good job, keep it up

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User's avatar Jreuyan
4 years ago

Go ahead

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User's avatar Limon
4 years ago

This is a beautiful article. I have learnt alot from it. Thanks for sharing

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User's avatar Mike23
4 years ago

sub me plz ..i subcribed u

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User's avatar devjani
4 years ago

Thanks

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User's avatar Delights
4 years ago

It is very good article meant for great potential earnings for BCH Miners. Thank you very much for the clear understanding of HashPower-Based Governance is coming soon to Bitcoin Cash. Great update, noted.

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User's avatar sistlavenkatagiri
4 years ago

Here are some of the things you mentioned about Bitcoin Cash in your article Things are really very important. Those who work directly or indirectly with Bitcoin Cash need to have this idea about Bitcoin Cash. Thank you for letting us know about this important issue.

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User's avatar Jon12
4 years ago

Wow, amazing Cool nice

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User's avatar Jreuyan
4 years ago

Nice article👈👈👈😍 subscribe me👈👈

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User's avatar Mehedi277
4 years ago

existing

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User's avatar MostafizurRj
4 years ago

Wow.it is a verry good article. Its a great its a great.thank you for post.well done

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User's avatar Mdjihad
4 years ago

What's the reasoning behind choosing 28 days as the time frame? I would have naively thought longer would be better.

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User's avatar n00b
4 years ago

So I really liked this idea up front, but then I gave it some thought, and it seems to me like this system might still leave room for an attack. In fact, while I don't want to see more and more competing forks (and they wouldn't exist per the original whitepaper), it seems like the lack of a split in such scenarios could eventually be the end of Bitcoin as a decentralized currency.

Maybe I'm misunderstanding something...

Re: 28 days: This implies to me that miners need to be active during the 28 days for their hashpower to vote. If this gave each miner equal say, what minimum amount of hashpower would be required to qualify as a miner? Who would be left out because they didn't have enough? Who could produce a sybil attack by dividing their hashpower up?

Re: Voting with hashpower: This implies that higher hashpower gets more say. If only hashes in the last 28 days matter, but amount of PoW in a block decides how much that vote counts for, and assuming it is correct that Core miners have something like 19x more hashpower available, why couldn't they put their hashpower toward BCH 1/19th of the time (with social engineering in order to ensure well over 50% of the vote) in order push a malicious vote through? They'd be able to sell the BCH they earned in the meantime, so it's not like the attack is especially expensive to them. Would we be trading true security (the cost of attack) for convenience (the lack of a split)?

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User's avatar The00Dustin
4 years ago

wow nice Keep it up😍😍

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User's avatar Jakir
4 years ago

Great news, as long as it protects and favors the miners potential ecosystem..nevertheless it makes us miners confidently attached to this new governance. Hoping for the best ..

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User's avatar Deve82
4 years ago

That what's my question -- Does it support Asic?If not how specialised equipment do i need for to be mimed?

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User's avatar Mrsrv
4 years ago

Please all we need are good equipment to help improve the crypto currency

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User's avatar Abbex4
4 years ago
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