A new mining operation dubbed “OrcaPool” has recently been launched, with the goal of defending altcoins and forked coins from attackers who may attempt to pull 51% attacks on them. Specifically, the pool appears to be a response to SharkPool.
At the time of Bitcoin Cash’s hard fork last year, a new cryptocurrency mining pool, SharkPool, was launched. The pool, founded by Bitcoin Satoshi’s Vision (BSV) supporter Ari Kuqi, threatened to annihilate “alts who dare bearing the Bitcoin name,” and specifically named Bitcoin Gold, Bitcoin Diamond, and Bitcoin Private.
SharkPool’s plan to annihilate cryptocurrencies is to dominate their hashrate to then start mining empty blocks on their chains. This stops transactions from going through, which over a long period of time creates a significant transaction backlog, making their network useless. The second part sees it sell the rewards it gets from those blocks for BSV, pushing its price up and putting selling pressure on the attacked crypto.
So far, SharkPool has seemingly attacked BCH’s testnet forcing it to add additional security resources, and Bitcoin Private’s (BTCP) mainnet, forcing cryptocurrency exchanges to require 1,500 network confirmations on transactions.
2019 Year of the Shark— SharkPool ~^~ (@SharkPoolCash) December 23, 2018
Result: additional resources put in testnet. Nakamoto Consensus is proven to economically incentivize investments in security.
Result: exchanges require 1500+ confirms for BTCP, devastating for a cryptocurrency.
Speaking to CryptoGlobe, Kuqi revealed that behind SharkPool’s ideology is Nakamoto Consensus. Per his words, nothing the pool does is “illegal,” as it “obeys all laws and regulations.” He added “miners execute their executive power by voting with their hash, building on a block or orphaning it.”
At the time Kuqi, the founder of Cashpay Solutions, also noted it doesn’t matter whether Craig Wright is indeed Satoshi Nakamoto, as SharkPool “fights for sound and stable money.” The pool has over the past few months been recruiting miners.
Now OrcaPool, on Twitter, has revealed its goal is to counter SharkPool’s activities, and that it’s also recruiting miners to join its resources. Its website explains the Orca was chosen as it’s a natural predator of the shark.
The new pool is reportedly going to sell the rewards of blocks it mines for bitcoin. So far, the war between the two pools has seemingly only been occurring on social media. SharkPool, reacting to the competitor, stated:
A Chinese knock off and like Alejandro, a joke.— SharkPool ~^~ (@SharkPoolCash) February 15, 2019
As onlookers piled on, OrcaPool pushed back:
Sharks are quivering in fear.— OrcaPool (@OrcaPoolCash) February 15, 2019